Tesla is often still called a “start-up,” it only has two models in production, but it was just declared the 10th most-valuble automotive brand, bumping Lexus in the process.
According to the BrandZ Top 100 Most Valuable Global Brands Study just released by Millward Brown, Tesla was helped by its pending Model 3 which has made a significant splash as it prepares the way for a widening of Tesla’s influence.
“Tesla is something completely different as a luxury brand, and as we know from our BrandZ results, that difference makes the difference,” said Peter Walshe, Global BrandZ director at Millward Brown, to Automotive News Europe. “After reinventing the electric car and fighting against suspicion in the luxury market, its announcement of a mass-market model has only boosted consumers’ desire to try the brand. It has grown like an Apple and a Facebook, which is enormous.”
Lexus, which was supplanted from the top 10 list by Tesla is the luxury division of Toyota which has retained the number one spot over BMW and Mercedes-Benz.
It has a reputation for excellent customer service and high quality products overall, but this was not enough tokeep it in the rankings.
Following are the world’s most valuable brands (by billions of dollars and percentage change from 2015:
1. Toyota $29.5 (28) +2
2. BMW $26.8 (33) +2
3. Mercedes-Benz $22.7 (39) +4
4. Honda $13.2 (74) -1
5. Ford $13.1 (75) 0
6. Nissan $11.5 (92) +1
7. Audi $9.5 (*) -6
8. Land Rover $4.7 (*) -5
9. Porsche $4.4 (*) (**)
10. Tesla $4.4 (*) (**)
(*) Not ranked in top 100 global brands
(**) Not ranked in top 10 most valuable car brands in 2015