Despite having recalled millions of its vehicles in 2009 and 2010, and following a devastating earthquake and tsunami that tested its Japanese infrastructure, Toyota Motors is recognized by consumers as the top car brand in the world. Toyota's recognition comes as part of a survey conducted by BrandZ which asked hundreds of thousands of consumers in 31 countries their opinion of many well known brands. Among automakers Toyota placed #27 in a list headed Apple and Google. Runner up to Toyota was BMW, the German automaker. BMW placed at #30 in the overall list.
Historic Changes Toyota's strong placement comes as the entire automotive industry works through some historic change including the near demise of General Motors and Chrysler, and the rise of the Chinese automobile industry. The market is changing rapidly as new electric vehicles such as the Nissan LEAF hit the market and as consumers demand safer, more fuel efficient and environmentally responsible vehicles.
BrandZ noted that the auto industry is due to go through some enormous changes over the next few years as China's own car industry flexes its muscles. As recently as 2007, the quality of Chinese cars was a non-factor. Today, Chinese manufacturers have been working diligently to close the quality gap and it is expected that by 2016, Chinese cars will be offer comparable quality to American cars. We'll also see several Chinese automakers introduce its cars to the American market beginning this year.
The BrandZ survey recognized the Top 100 brands for 2011, valuing each brand accordingly. Toyota's value is pegged at $24,128,000 or about $1.7 million ahead of BMW, last year's leader. The third through fifth spots were occupied by Mercedes, Honda and Porsche.
Ford Brand Occupying the sixth through tenth spot are Nissan, Volkswagen, Ford, Audi and Lexus. About Ford, BrandZ noted that the automaker has been building up goodwill for itself as the company avoided the bankruptcy fate of its American competitors, GM and Chrysler. Moreover, the marketing company cited Ford for making use of social media, such as Facebook, to introduce new products such as the Ford Explorer. Ford is also a huge TV advertiser, sponsoring "American Idol" and "The Amazing Race," two of the more popular reality shows.
