Toyota, Mercedes, BMW Among Interbrand’s Top 10 Most Valuable Companies
Three automakers make up the list of the most valuable companies on the planet according to Interbrand’s Best Global Brands 2023 ranking released this week.
Toyota (6th, $64.5 billion USD), Mercedes-Benz (7th, $61.4 billion) and BMW (10th, $51.2 billion) have one thing in common: they boast some of the highest growth rates this year at 8%, 9% and 10%, respectively.
Other automakers rank in the top 100 brands including Tesla (12th, $49.9 billion), Honda (27th, $24.4 billion), Hyundai (32nd, $20.4 billion), Audi (45th, $16.4 billion), Porsche (47th, $16.2 billion), Volkswagen (50th, $15.1 billion), Ford (51st, $14.9 billion), Nissan (63rd, $12.7 billion), Ferrari (70th, $10.8 billion) and Kia (88th, $7.1 billion).
Porsche (20%), Hyundai (18%) and Ferrari (16%) all achieved a double-digit rate of growth and accounted for three of the top five fastest-growing brands in 2023.
The rate of growth in the overall brand value slowed sharply after last year's significant increase, rising 5.7% this year (9% in the automotive sector) compared to last year's 16% increase.
Brands operating exclusively in one sector, taking an incremental approach, have experienced slower brand value growth, Interbrand noted. That’s why more and more automakers are developing new mobility solutions or branching out into other fields including high technology, connected services, finance, energy and more.