Tesla was the only brand that saw its value increase.
Only three automakers were included in the latest 2020 BrandZ Top100 Most Valuable Brands survey by Kantar. Toyota was ranked 48th, but it still ranks as the most valuable brand in the world despite having lost approximately 3 percent of its value to 2019.
Mercedes-Benz was the second most valuable brand in automotive industry, ranking 56th overall. BMW came in at 61st, with a loss of 9 and 12 percent, respectively. Ford, Honda fell off the top 100 after losing 10 percent and 15 percent respectively of their value in comparison to 2019.
Global BrandZ Strategy Director Graham Staplehurst stated that the value of the car industry has fallen since 2008 and that it has never recovered. It’s quite different than other sectors. The luxury sector, for example, took a big hit but has since recovered.”
The only brand with a valuation growth of 22 percent or more to $11.35 million is Tesla, out of all ten automobile brands. But this was not enough to allow Tesla, a California-based electric vehicle manufacturer, to reach the Top 100. Kantar experts believe that companies that are focused on electric technologies will have the best chance of a quicker recovery.
Guillaume Saint, the global automotive practice leader at the research company, stated that brands that continue to invest in EVs will continue growing in the future. “The companies that drop the most value are those that are least open to expressing their vision of the future of mobility.
The automotive brand’s Top 10 List showed that Nissan suffered the largest drop in value, 18% to $8.66 Billion. Honda, Audi and BMW followed with decreases of 15-, 14 and 12 percent.
Amazon is the most valuable brand in 2020, outside of the automotive industry. It retains its position after increasing its value 32 percent to $415.8 million in 2019. Apple was second, followed closely by Microsoft which took third place from Google.