|
According to Carscoops, citing Brand Finance’s report, Toyota remains the top-valued automotive brand, currently worth an estimated $64.7 billion, marking a 23% growth compared to the previous year.
On the other hand, Tesla, the American electric car maker, witnessed a 26% decline in its brand value, dropping to fourth place in the ranking of the most valuable car manufacturers.
Brand Finance estimates Tesla’s total value to be around $43 billion, a decrease from the $58.3 billion recorded at this time in 2024, and $66.2 billion in 2023.
This decline allowed Mercedes and Hyundai to surpass Tesla. The German carmaker is now ranked second with a brand value of $53 billion, while the Hyundai Group comes in third.
The research calculations are based not only on stock performance and sales data but also take into account feedback from thousands of surveys designed to capture customer attitudes towards the brand.
Brand Finance attributes Tesla’s decline partly to its “dated” product line. The actions of Elon Musk during Donald Trump’s campaign are also believed to have had an impact.
|
|
Tesla’s downward trajectory in brand value rankings. Image: Tesla |
“If a customer is in the market for an electric car, his personality could influence whether or not they want to buy one of Tesla’s electric car products,” said David Haigh, CEO of Brand Finance, to CNBC.
Tesla’s consideration rate—an index representing the likelihood of customers purchasing from the brand—has dropped from 21% to 16% in Europe. However, American customers view Tesla more positively.
The Brand Finance study examines multiple brands across all sectors, with Apple taking the top spot, followed by Microsoft, Google, and Amazon.
While Toyota leads the automotive industry, it ranks 18th overall. Tesla, on the other hand, ranks 36th, falling from 18th in 2024 and 9th in 2023.
Recommended Reads for Your Drive
Our Cars section offers a diverse range of captivating book titles to keep you engaged during your journeys. Whether it’s a quick break or a long trip, a good book is always a great companion.
Preparing to Auction Off Donald Trump’s Ferrari F430
The Ferrari F430 up for auction still bears the name of none other than Donald Trump in its paperwork.
The Electric Car Giant Strikes Back: Tesla Takes on Customers Over Quality Complaints
Tesla, the American automotive and energy company, has taken legal action against six Chinese car owners. The company is taking a stand against what it considers to be unfounded complaints about the quality of their vehicles.
Domestic Motorcycle Production Declines in the First Quarter
The domestic motorcycle industry in Vietnam witnessed steady growth month-on-month, yet the overall output in the first quarter fell short of the previous year’s figures for the same period.
The Future of Urban Mobility: Toyota’s Visionary ‘Woven City’
The Woven City project is an ambitious undertaking with a unique focus: to test and develop cutting-edge transportation methods of the future, including flying cars, drones, delivery robots, and even robotic pets.
Why Honda and Toyota Cars Always Hold Their Resale Value
In the used car market, Honda and Toyota models are perennial favorites due to their reliability and affordable pricing. But why do these brands command a higher price tag than their competitors in the pre-owned arena? CNBC recently delved into the reasons behind this phenomenon, shedding light on the enduring value proposition of Honda and Toyota vehicles.
