Mercedes-Benz is now the most valuable automotive brand in the world.
According to the latest study conducted by Brand Finance, Mercedes managed an impressive 24 percent year-over-year growth in its brand value to $43.9 billion.
The German automaker edged out Toyota and bested rival BMW for the top spot on this list.
Toyota fell by 6 percent and now sits at $43.7 billion, which Brand Finance blames on the Japanese automaker’s comparatively weak position in China. New car buyers in the Chinese market have been slow to warm up to Japanese automakers, but they’re keen on aspirational luxury brands.
Speaking of the Chinese market, a handful of brands big in China but unheard of in many global markets are on the list. Haval, Geely, BYD, Baojun, and Foton are all climbing.
In fact, Geely recently acquired a nearly 10 percent stake in Mercedes-Benz parent Daimler, which could boost its $6 billion brand valuation.
According to Agency Reports, the Volkswagen Group, which oversees VW, Audi, Porsche, Lamborghini, and several other brands, is still the most valuable overall at $75.8 billion for its entire portfolio.
The best finish for an American automaker? That’s Ford with an eighth place showing. The Blue Oval brand dropped from 6th in 2017, and saw its value fall from $22.4 billion down to $17.2 billion.
