just-auto.com

Toyota tops global brand rating

By Graeme Roberts | 11 June 2019

Toyota was top automotive brand in the latest BrandZ Top 100 Most Valuable Global Brands 2019 listing but only 41st overall with a US$29,151m valuation, down 3% and five places.

Amazon worth $315,505m, CarPlay supplier Apple, Android Auto supplier Google, Microsoft and Visa were the top five.

Uber ($24,206m) placed 53rd ahead of second placed car brand Mercedes-Benz ($23,355) and BMW ($23,326m) was ranked third car company and 55th overall.

Ford and Honda did not make the top 100 this year.

In the report, Guillaume Saint, Global automotive practice lead at Kantar, said: "Interestingly, you'll see that auto brands ranked in the BrandZ Cars Top 10 are great examples of innovative, purposeful, and differentiated brands that inspire consumers and engage with their customers with a high level of clarity.

Competition would be "intense" over the next 10-15 years with three layers - direct, indirect, and mobility providers with each requiring a specific plan
of action. There would be strong direct competition from other large established auto brands on product, user experience, and distribution and indirect competition from "new, agile brands" (some of which were born digital) such as Tesla (US), Byton (China), and Polestar (Sweden) in the premium segment, and Wey (China), LYNK & Co (China), VinFast (Vietnam) and Venuccia (China) for the lower segments.

"Some of these brands are still local, whereas others clearly have global ambitions," he said.

"This new agile and innovative competition is forcing the traditional automotive industry to react, adjust, and ultimately to move forward."

He added mobility providers leveraging the transition from car ownership to car usage, and powered by digital technology, were offering mobility as a service and taking "a fair share of commuter's travel time and budget".

"Relatively new operators such as Uber, Lyft, Car2Go, Free2Move, BlaBlaCar and many others are forcing established auto brands to think out of the box, address the mobility solution they provide through a different angle and innovate their business model to stay in the race.

"In this context,  the strongest asset that auto brands can rely on is the brand. A brand that tells a story, a brand that engages both implicitly and explicitly, a brand that reassures, a brand that connects through its beliefs and its values, a brand that offers a unique and exciting experience, and a brand that is loved and respected.

"The brands that effectively build their customer value proposition on these criteria are the brands that will succeed in this context.

"Once the winning strategy is defined, it is essential to keep messages consistent across multiple communication and experiential touch points to optimise return on investment."