However, only one car brand actually managed to record an improvement in its valuation for 2020.
The world’s most valuable car brands have been revealed for 2020, with a small number of brands managing to improve their rankings despite a difficult year for the industry.
With its annual Best Global Brands survey, marketing agency Interbrand ranks brands based on their overall valuation, which takes into account things like “financial performance of the branded products or services, the role the brand plays in purchase decisions, and the brand’s competitive strength”.
Japanese giant Toyota topped the automotive portion of the list, with a brand valuation totalling almost $51.6 billion, perhaps unsurprising given it typically claims the title of the world’s best-selling car maker.
However, Toyota’s 2020 value represented a decline of roughly 8 per cent on its last valuation in 2019 – a trend seen across all automotive brands included in the survey bar one.
Hyundai was the only auto brand to improve its brand value in 2020, recording a 1 per cent year-on-year increase to rank as the fifth most valuable car company for the first time since 2005.
Mike Rocha, Interbrand’s Brand Valuation Global Director, attributed Hyundai’s modest increase to the expansion of its future mobility business and the announcement of its all-electric Ioniq sub-brand.
Tesla managed to once again rank in the top 100 global brands, placing 40th overall and sixth in automotive, after dropping off the list in 2019.
Toyota and Mercedes-Benz were the only two automotive brands to nab a place in the top 10 ranking of all global brands, securing seventh and eighth position respectively.
Overall, Interbrand identified Apple as the world’s most valuable brand with a valuation of $322.9 billion, closely followed by Amazon with $200.6 billion.
|Ranking||Brand||Brand value||Change from 2019|
|14||Land Rover||$5.07 billion||-13%|