Study reports BMW is now world’s no. 1 automaker, ahead of Toyota
Automotive News has published a study, according to which German carmaker BMW has as of now replaced Toyota as the world’s most valuable car company and brand. This is despite the slight decline that BMW has suffered last year – not that it’s a wonder, most business in all fields has suffered worldwide from the financial crisis. Cars and housing among the first.
The article sites a study by Millward Brown called the BrandZ Top 100. On the heels of Toyota’s recent recall troubles, the company’s value declined by 27 percent to a shade under $21.8 billion. Meanwhile, the BMW drop was much less at just nine percent, putting its total value at $21.8 billion even.
It is our belief, just like Millward Brown via Automotive News say, that the huge Toyota brand will be on top again before long. A spokesperson said that the carmaker’s aggressive work to rebuild its reputation is already underway and should do much to restore the company’s global standing.
The first thing Toyota needs to solve once and for all (or for the next few years at least) is, obviously, car quality. More recalls spell doom for big T, and that’s no good news for anyone expect maybe direct competition. But not even for them, for companies like GM or BMW, because top priority/hope for everyone in the car world at the time is healing after the depression.
BMW wasn’t the only company busy at restoring, automakers like Ford and Volkswagen made progress on improving their own brand value thanks to investments in entertainment and emissions technologies. Those companies are both valued at around $7 billion.
Jump over at the official article and read the full study for more details, including but not limited to how the crisis affected luxury makers like Porsche, Ferrari and Mercedes-Benz.