Toyota has retained its position as the world's best known automotive brand – for the 11th consecutive in a row.
And with a 20 per cent gain in brand value year on year from 2013, the Japanese giant has also climbed two spots from 10th overall to eighth in the global survey, conducted by industry analyst Interbrand. The brand's value, in dollar terms, has risen from USD $35.3 billion in 2013 to $42.4 billion this year. Additionally, from the previous year (2012) Toyota's brand value had increased by 17 per cent. Admittedly, as Interbrand itself suggests, Toyota's jump in brand awareness may be due in part to the notoriety that comes with being fined USD $1.2 billion by the US Justice Department back in March for allegedly concealing safety defects – and then recalling 6.4 million vehicles the very next month. Toyota has a different take on things, of course; the company points to its future mobility efforts, which Interbrand did note had helped elevate Toyota to number two in Interbrand's 2014 Best Global Green Brands report.
"At Toyota, we're not just thinking about where the automobile industry is headed – we're committed to leading the way to the future of mobility," said Toyota Motor Sales USA vice-president of marketing, Jack Hollis.
"Loyalty often breeds brand leadership because once a guest comes into your family, they don't want to go anywhere else.
"People choose brands – and sometimes pay more – because they have an emotional connection with those brands," Hollis was quoted saying in a press release.
Other automotive brands in the survey all witnessed an improvement in their respective brand values, and Land Rover was a new entrant in the top 100 for the first time.
Interbrand global brand survey (automotive)
Toyota – #8 $42,392* (+20%)
Mercedes-Benz – #10 $34,338* (+8%)
Honda – #20 $21,673* (+17%)
Volkswagen – #31 $13,716* (+23%)
Ford – #39 $10,876* (+18%)
Hyundai – #40 $10,409* (+16%)
Nissan – #56 $7623* (+23%)
Porsche – #60 $7171* (+11%)
Chevrolet – #82 $5036* (+10%)
Land Rover – #91 $4473* (New)
* figures given represent millions of US dollars