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Thursday, October 22, 2020

Toyota Emerges as Best Automotive Global Brand for 2020

Amid a global pandemic with its significant impact on business in 2020, Interbrand a global brand consultancy company released their annual list of the 2020 Best Global Brands (BGB) ranking.

During the analysis of BGB 2020, one key question emerged: how can brands build economic resilience, individual confidence, and make good on the possibility of a better future for everyone? Interbrand’s analysis revealed three fundamental priorities:
  • Leadership: setting a worthy purpose and a powerful ambition beyond turbulence and chaos helps brands to put a flag in the future.
  • Engagement: great brands make consumers want to be part of their story by taking them on a shared journey. Salesforce has seen explosive growth by listening to customer communities and celebrating them, rather than the product. The business is in constant conversation with its customers, taking them on this shared journey.
  • Relevance: a voice in the crowd - great brands lift consumers from indifference and make consumer choices meaningful.
The top ranked carmaker, and the one which embodies all three characteristics is Toyota with a brand worth USD 51 billion. While it retained its number one spot the automotive industry, its value dropped 8 percent compared to in 2019. In second is Mercedes-Benz which is worth USD 49 billion, with BMW (USD 39 billion), Honda (USD 21 billion), and Hyundai rounding out the Top 5.

Overall, Apple retained its top spot in Interbrand’s ranking, while Amazon increased its brand value by a whopping 60 percent to land in second. Microsoft has overtaken Google to reach the number three spot—the first time the search giant has moved out of the top three since 2012. Meanwhile Samsung has broken into the top five for the first time ever.

Elsewhere in this year’s rankings, social media and communication brands have fared particularly well with Instagram (#19), YouTube (#30), and Zoom (#100) entering the rankings for the first time.

Media companies have also seen success among the turmoil created by the pandemic. Spotify (#70), saw brand value increase by 52 percent to USD 8.3 billion – jumping 22 places in the rank, while Netflix rose to 41st place with a 41 percent increase to USD 12.6 billion. Business models have played a role in this success, with 62 percent of double-digit risers relying on significant subscription model businesses.

The Top Automotive Performers in the Interbrand 2020 Best Global Brands Are:
  1. Toyota (Overall Rank # 7)
  2. Mercedes-Benz (Overall Rank # 8)
  3. BMW (Overall Rank # 11)
  4. Honda (Overall Rank # 20)
  5. Hyundai (Overall Rank # 36)
  6. Tesla (Overall Rank # 40)
  7. Ford (Overall Rank # 42)
  8. Audi (Overall Rank # 44)
  9. Volkswagen (Overall Rank # 55)
  10. Porsche (Overall Rank # 59)
  11. Nissan (Overall Rank # 59)
  12. Ferrari (Overall Rank # 79)
  13. Kia (Overall Rank # 86)
  14. Land Rover (Overall Rank # 93)
  15. MINI (Overall Rank # 95)

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