SEOUL, KOREA - Toyota has overtaken BMW as the world's most valuable car brand, according to a survey by a global research organization Millward Brown.
Toyota's brand value reached US$24.5 billion, up 12 percent from a year ago, ranking No. 1 among the world's major automobile companies. In overall ranking, Toyota grabbed No. 23 spot among the world's top 100 brands.
Millward Brown's brand value survey was conducted with more than 1 million customers worldwide. The survey consists of interviews with them and the analysis of corporate fiscal conditions and financial performances.
BMW, which ranked No. 1 last year among automobile brands, saw its brand value slip by 2 percent to $24 billion, followed by Mercedes-Benz with $18 billion, Honda with $12.4 billion, Nissan with $10.2 billion, Volkswagen with $8.8 billion, Ford with $7.6 billion, and Audi with $5.5 billion.
Hyundai Motor's brand value amounted to $4 billion, up 11 percent from $3.6 billion a year ago, ranking No. 9 among the world's automobile brands.
