Toyota Achieves The World's Most Valuable Automotive Brand Title

Toyota electric car ranks. (Doc. Global Toyota)

Toyota, a Japanese automotive company, once again affirms its dominance as the world's most valuable automotive producer. This was revealed in the recently released Interbrand Global Best Brands 2023 report.

According to the report, Toyota ranks sixth overall from the top 100 world brands. This position is the same as its achievement in 2022.

In this ranking, Toyota managed to beat other automotive brands such as Mercedes-Benz, BMW, and Tesla. Toyota recorded a value of US$64.5 billion, placing it one rank above Mercedes-Benz which has a value of around US$61.4 billion.

Based on a report from Drive, Thursday, November 23, Toyota is only under five global technology companies, namely Apple, Microsoft, Amazon, Google, and Samsung, which also maintain the same top position in the previous year. Apple is ranked first with a value of more than half a trillion US dollars (502.68 billion US dollars).

Meanwhile, for other automotive brands, BMW managed to reach 10th place, an increase from 13th place in the previous year, while Tesla maintained its position in 12th place.

In general, the automotive industry recorded the highest increase in value, with an increase of nine percent compared to 2022. These results place Toyota and Mercedes-Benz on top of other well-known brands such as Coca-Cola, Nike, and McDonald's.

Honda, Hyundai, Audi, Porsche, and Volkswagen also made it into the top 50. Although the global brand value increased by only 5.7 percent in 2023, compared to the 16 percent increase in 2022.

The Interbrand Global Best Brands annual report was first published in 2000, ranking at the world's 100 most valuable brands in a variety of categories. Rankings are based on data that measures brand products or services, the role of brands in customer purchase decisions, and brand power based on revenue projections