Bigger doesn’t always mean better, anyone who’s driven a GR Yaris will tell you that. But when it comes to the car industry, the world’s biggest automaker is also the one with the greatest brand strength, according to a new study.
Toyota was ranked sixth in Interbrand’s prestigious Global Best Brands 2023 list for the second year running, nosing ahead of Mercedes, which came seventh, up one spot on 2022, and BMW, who placed ninth, climbing three positions. The only other automaker to make it into the top 20 was Tesla, which once again grabbed 12th spot.
Now in its 24th year, Interbrands’ study ranks brands according to three criteria. The first is the financial performance of the brand’s products or services, the second is the role of the brand in the customer’s purchase decision process, and the third is the strength of the brand with regards to securing the company’s future earnings. Having crunched all of that data, Interbrands comes up with a league table of the top 100 brands each year, covering not just cars, but tech, hospitality, fashion, and many more sectors.
Related: Akio Toyoda Lives In Fear That Toyota Will Go Back To Boring
Toyota and Mercedes ranked ahead of both Coca Cola and Nike, BMW placed ahead of McDonalds, and Tesla got the better of Disney and Louis Vuitton. But even Toyota will have to seriously up its game to trouble the top five. Apple, Microsoft, and Amazon once again grabbed the first three positions, and in the exact same position they did in last year’s study, while Google and Samsung came in fourth and fifth.
Looking at the full list of 100 brands shows up a few more automakers, though all are some way off the lead pack: Honda (27), Hyundai (32), Audi (45), Porsche (47, notably up six places), VW (50), Ford (51), Nissan (63), Ferrari (70, up five), Kia (88).
