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Toyota Named World's Top Automotive Brand

5 August, 2004

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Toyota has displaced Mercedes-Benz as the world's most valuable automotive brand in the fourth annual global brand survey published by BusinessWeek magazine.

The Toyota brand was valued at US$22.67 billion, ranking it ninth among all global brand names - automotive or non-automotive.

BusinessWeek magazine noted that Toyota's improved standing was due to “rock-solid quality and the edge in hybrid cars”.

Toyota is the only Japanese brand in the top 10.

Toyota's brand value has risen from US$18.58 billion in the first 100 Best Global Brands survey in 2001, an increase of 22.0 percent in just three years.

Toyota this year recorded the largest annual increase of any brand in the top 20, rising by 9.1 percent.

Other automotive brands ranked in the top 100 are Mercedes-Benz (11), BMW (17), Honda (18), Ford (19), Volkswagen (48), Porsche (74), Audi (81) and Nissan (90).

BusinessWeek employs leading brand consultancy Interbrand Corporation to compile the brand value rankings.

Interbrand pioneered the world's first objective brand valuation method in 1987, developing a model with the London Business School.

To make the Top 100, brands must be global, generating significant earnings outside their home markets, and have sufficient marketing and financial data publicly available for preparing a reasonable valuation.

BusinessWeek is the world's largest business magazine with a worldwide circulation of 1.2 million copies and 5.6 million readers a week.

The 2004 Best Global Brands special report was published in the August 2 edition of BusinessWeek.

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