Tesla has eclipsed Mercedes-Benz and Toyota for the first time, jumping two ranks on the ranking list of the world's most expensive vehicle brands in just a year, Brand Finance informs.
The Tesla brand is currently worth $66.2bn, up 44% from the identical period last year and five times what it was before the outbreak. This increase in brand value is a positive indication for Tesla since it signals improved brand awareness, which might lead to more sales and profitability in the future, according to Alex Hay, Director of Valuation at Brand Finance.
Toyota fell to third position, losing 18% of its value ($52.5bn), with Mercedes-Benz taking second place (down 3%, $58.8bn). Ferrari NV was designated the strongest automobile brand with an AAA+ grade, despite the fact that its brand value declined by 8% in one year by $7.4bn, owing mostly to the euro's loss versus the dollar.
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