Toyota Motor Corp. (NYSE: TM) vies with Volkswagen for the world crown in car companies by unit sales, yet the Japanese manufacturer is the world’s most valuable car brand. Among the top 100 brands, VW has one of the lowest values.
According to Interbrand, Toyota’s brand is valued at $56 billion, up 9% from 2015. Two luxury brands are next on the list. Neither sells as many cars at the largest companies, but each sells premium brands. Mercedes has a brand value of $43 billion, up 18% from the previous year. BMW has a value of $42 billion, up 12%.
The only U.S. car brand on the list, as Brand Channel points out, is Ford Motor Co. (NYSE: F) at $13 billion, up 12%.
The Brand Channel had an interview with Interbrand’s managing director and auto sector expert Daniel Binns. The publication pointed out that:
With 15 auto brands on Interbrand’s 100 Best Global Brands 2016 list, the automotive sector is crucial. Autos also are a top-growing sector, rising 9.5 percent in total value this year to more than $256 billion.
Binns commented that:
This is impressive for an industry that can get bogged down by large legacies, infrastructures and ingrained processes. But while the speed of change is growing exponentially, many of these brands are keeping pace by responding to consumers’ evolving needs and embracing the technology that’s changing the way the world thinks about cars.
Incidentally, VW’s brand value was down 9% to $11.4 billion. Even the parent company’s luxury division did better. Audi’s brand is worth $11 billion, up 14%. The information shows how far VW will have to climb to get toward the top of the auto brand list.