The Japanese automaker’s brand value jumped by 21 percent, reaching an estimated $30 billion, while BMW posted single-digit gains with a valuation of $26 billion, according to the annual ‘BrandZ‘ analysis compiled by research firm MillwardBrown.
“Unlike in some other categories where consumers gravitated to the value and premium options, abandoning the broad middle, the mid-market brands came back strongly in the car category,” the report notes.
Ford showed the biggest value gains for the year, marking a 56-percent leap to near $12 billion, while Audi and Mercedes-Benz brands gained 20 percent and 27 percent, respectively. General Motors’ Chevrolet brand also made a notable entry into the top-ten list for the first time, despite the recall crisis.
“Consumers expected cars loaded with technology, regardless of price point,” the analysts observed.
Safety was also highlighted as a driving force behind new vehicle purchases, encouraging drivers to upgrade after an average of three years as newer safety technology arrives on the market.
Despite the focus on technology, however, the report suggests price, limited range and scant recharging infrastructure still stand in the way of electric-vehicle adoption. The Nissan Leaf and Chevy Volt achieved “soft sales,” while Tesla “generated excitement” without many unit sales because its brand became a “status symbol.”
MillwardBrown provides some “brand building” advice to major automakers: be safe, be transparent, and demonstrate leadership.
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