Toyota has reasserted itself as the world’s most valuable car brand, replacing BMW, rated the top brand in the Millward Brown survey in 2010 and 2012. Toyota held the top spot in 2006-2009 and again in 2011.

Toyota’s 2013 brand value rose 12% to US$24.5bn largely because of its strength in the hybrid market, according to the study by the market research company which bases company valuation on consumer interviews and financial analysis.

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BMW’s value fell 2% to US$24bn largely because of the company’s lack of new product launches compared to recent years, says Millward Brown.

Toyota ranked 23rd overall and BMW 24th.

The only other car makers in the top 100 are Mercedes–Benz valued at US$18bn and ranked 43rd; Honda (US$12.4bn and 71st); Nissan (US$10.2bn, 86th) and Volkswagen (US$8.8bn and 100th).

The world’s most valuable brand is Apple (US$185bn) for the second year followed by Google (US$113.6bn), IBM (US$112.5bn), McDonald’s (US$90.2bn) and Coca-Cola (US$78.4bn).

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