Toyota has strengthened its position as the world's most valuable automotive brand on the back of demand for hybrid vehicles, a rising Japanese economy and a rebound in the US car market. For the second straight year, Toyota is the leading auto brand on the BrandZ Top 100 Most Valuable Global Brands list. Toyota's brand value surged by 21 per cent to US$29.6 billion over the past year compared with average rises of 17 per cent for the auto sector and 12 per cent for the top 100 brands.
It is the seventh time in nine years that Toyota has been crowned automotive brand value leader in the BrandZ™ Top 100 Most Valuable Global Brands report. The report said hybrid vehicles continued to do well with fuel efficiency and emissions shaping buyer preferences. "It’s not that shoppers preferred the styling or performance of those cars, but they wanted to enjoy the key benefit - fuel efficiency," it said. "Toyota hybrid sales in Europe grew 43 per cent, driving strong profit for the brand in that region." Hybrid sales were up 30 per cent in the United States.
The rankings, commissioned by advertising and PR firm WPP and compiled by its sister company, market research firm Millward Brown Optimor, are based on a combination of detailed financial analyses of business performance and a perception survey of more than 2 million consumers around the world.
Toyota Motor Corp. had announced earlier that it sold more than 10 million vehicles worldwide during the fiscal year that ended on March 31, 2014, setting an all-time record for the auto industry. Toyota's global sales for fiscal 2013 had totaled 10,133,000 units. Industry analysts also said that no other automaker has ever topped the 10 million mark during any 12-month period.
Global vehicle sales for the maker of the Camry sedan, Prius hybrid and Lexus luxury model surged nearly 23 percent from the previous year. Overseas sales jumped 19 percent, while sales in Japan, where the economy was troubled, recovered a whopping 35 percent. Achieving the sales milestone of 1 million Camrys sold in GCC & Yemen since its introduction in 1992 also instills a great sense of accomplishment for Toyota.
Toyota continues to reinforce the leadership position with the introduction of a range of new and exciting models to enhance the market leadership with steady sales and sustained performance. Customers have found a striking connection with the successful Toyota’s new design direction. The new design direction has led Toyota to develop cars with dynamic and exciting exterior designs while increasing the fun to drive quotient. The trust, confidence and loyalty shown by customers inspires Toyota to keep moving forward and continuously find ways to serve them better.