In the latest rankings announced by BrandZ, the most respected ranking association in the world, Toyota has lost its place coming second to Bavarian Motor Works popularly known as BMW. BMW occupies the first spot in BrandZ 100 Most Valuable Global Cars list. The organization is run by the market research company Millward Brown. Additionally, according to the latest annual ranking Audi, Volkswagen, Mercedes Benz has also improved their brand ranking positions significantly.
Mr. Peter Walshe,the Global Brand Director of Millward Brown, stated “BMW is an efficient communicator which other car-makers care not and it undoubtedly has a very decent product line-up.” He further emphasized BMW was an excellent global communicator and very consistent in its innovation to introduce outstanding vehicles to the global market. The first and second positions have seen a flip flop between Toyota and BMW. Toyota ruled the roost from 2006 to 2009. In 2010 Toyota was dethroned by BMW and it again regained its top spot in 2011, only to lose it again in 2012.
Walshewas sympathetic towards Toyota as he mentioned that the recent spate of natural calamities which shook Japan, like the earthquake and subsequent Tsunami, crippled Toyota and it lost its ranking. He further stated that Toyota products are synonyms with quality and value for moneyand the natural disasters have made Toyota incur financial problems but not brand control.
The natural disasters seems to have affected Toyota the most as other car manufacturers like Nissan, Lexus and Honda have succeeded in retaining their respective positions in the top 10. German automobile manufacturers like Mercedes Benz and Volkswagen have shown significantgains in brand value rankings which are attributed to their profitable business in countries like India and China.
Among the numerous Korean automobile manufacturers, Hyundai could manage a position in the top 10. According to Walshe, Hyundai is in the 9th position having climbed to that spot as they offer cars at affordable prices worldwide.
