DAVID FURLONGER: Tesla ups the brand ante

Tesla has leapfrogged traditional giants Volkswagen and BMW to occupy third place in the latest ranking of automotive brand values. While many companies saw their values decrease last year, Tesla’s rose by 44% and the company now has only Toyota and Mercedes-Benz ahead of it.

Brand Finance says Tesla CEO Elon Musk, with his “charismatic” and “controversial” behaviour, has played an important part in its brand growth. The top 10 value-ranked global brands are Toyota , Mercedes , Tesla , VW , BMW , Porsche , Honda , Ford , Nissan and Volvo . Of those, VW, BMW, Porsche, Honda, Nissan and Volvo all lost value. Volvo shed a worrying 20%.

Mercedes, by contrast, has grown EV sales by 90% this year. While other German brands lost value — some because of problems with transitioning to EV sales after their previous reliance on diesel vehicles — Mercedes has also benefited from the rebranding of parent company Daimler AG to Mercedes-Benz Group AG, thereby clarifying and deepening brand identity.

Source: News Formal (newsformal.com)

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