Toyota, a Japanese automaker, has become the most valuable automobile brand in the world in 2021, according to a report released by Brand Finance. The Japanese automaker has overtaken Mercedes-Benz to gain the top spot. As per the report, the brand value of Toyota increased by 2 percent at USD 59.47 billion against 58.07 billion in the last calendar year. The luxury carmaker Mercedes-Benz witnessed a drop of nearly USD 7 billion to get valued at USD 58.2 billion, compared to USD 65.04 billion in the year 2020.
According to the report, Toyota managed to make a strong comeback as the company did not allow the Coronavirus pandemic to impact its manufacturing volume much. Also, the improvements made to the volumes, mainly in China where the third-quarter growth of the carmaker stood at 50 percent in the net profit, added to the cause.
At third rank, stood Volkswagen with a USD 47.02 billion value compared to the USD 44.89 billion during the last calendar year. While BMW, which stood fourth, witnessed a marginal fall in its value as in 2021, the valuation of the company stood at USD 40.44 billion against USD 40.48 billion in 2020.
Porsche, which is a German brand, followed BMW to rank fifth with a valuation of USD 34.32 billion compared to USD 33.91 billion in 2020. In sixth place was the electric vehicle producer, Tesla with a valuation of USD 31.98 billion in 2021 against the USD 12.41 billion last year.
The seventh spot was grabbed by Honda, which is valued at USD 31.36 billion in 2021 compared to USD 33.10 billion last year. The Japanese manufacturer was followed by Ford Motor Company at the eighth spot with USD 22.67 billion for the current year against USD 18.51 billion in 2020.
The ninth and tenth spots were grabbed by Volvo and Audi, respectively. Volvo held a valuation of USD 17.75 billion compared to USD 16.91 billion in the year 2020, while Audi is valued at USD 17.18 billion against USD 16.97 billion in the last year that is 2020.