Toyota's production of more stylish vehicles with greater appeal to young buyers has led to the company being named the world's most valuable automotive brand for the 9th consecutive year.
Valuation of the Toyota brand has improved by 9% in the past year to almost $US30.3 billion, according to the annual Best Global Brands Report 2012 compiled by the international consultancy Interbrand.
Interbrand said Toyota - which this year introduced several new vehicles including the Toyota 86 sports coupe and Prius c city car - is reinventing its brand with more stylish and better-looking vehicles.
The brand secured 10th position across all industries, an improvement of one place over 2011. It has been rated as the world's most valuable automotive brand each year since 2003. Toyota's brand worth is rated ahead of Mercedes-Benz and BMW, the only other automotive companies with brands valued over $US20 billion.
Commenting on the results, Simon Frith, Managing Director Al-Futtaim Motors said: “The report underlines Toyota’s strong brand value and demonstrates the loyalty of its customers. Beside the quality, durability and reliability, it is very clear that the Toyota management has been lately focusing on injecting more style in the new designs, with a clear consideration for the youth’s interest.”
He added: “With the introduction of the Toyota 86 sports coupe to the UAE market, we have seen a clear increase in the young customer segment, which is a very healthy indicator and one of the main reasons Toyota maintained its leadership position in the Best Global Brands Report 2012”
Frith concluded: “We believe that with the introduction of the Toyota hybrid models to the UAE market in the near future, we will be able to connect with a wider eco-conscious audience and will set us among the leading companies in the UAE green agenda”
Interbrand highlighted Toyota's continued determination to maintain environmental sustainability as a top management priority as a key part of the company's success story. When compiling the Best Global Brands report, Interbrand uses a methodology that takes into account a multitude of factors that affect how a brand connects with the consumer and adds value to the organization