Japanese legacy automaker Toyota beat all its rivals in the automotive space as the most valuable car brand in Interbrand’s Best Global Brands 2023. Toyota ranked 6th in the rankings with a valuation of $64,504 out of 100 brands.
Interestingly, American tech giant Apple defended its dominant position with a value of $502,680.
Four automakers got in the top 20
Toyota surpassed all other automotive players in Interbrand’s Best Global Brands 2023 report. The Japanese automaker secured the top 6th spot with its $64,504 market valuation, maintaining its position from last year.
German Automaker Mercedes-Benz followed in the 7th spot with a valuation of $61,414, up one spot from last year.
Another German automaker, BMW, got in the top 10 with a valuation of $51,157, up 3 spots from 2022.
American EV giant Tesla landed 12 spots with a value of $49,937, maintaining the similar spot it secured last year.
Drive outlined the following automakers in the rankings beyond the top 20: Hyundai (32nd), Audi (45th), Porsche (47th), Volkswagen (50th), Ford (51st), Ferrari (70th), and Kia (88th).
Interbrand’s Best Global Brands 2023 – Top 20
Presented below are the top 20 brands in Interbrand’s rankings for this year:
| Rank | Brand | Value ($US million) | 2022 Rank |
| 1 | Apple | $502,680 | 1 |
| 2 | Microsoft | $316,659 | 2 |
| 3 | Amazon | $276,929 | 3 |
| 4 | $260,260 | 4 | |
| 5 | Samsung | $91,407 | 5 |
| 6 | Toyota | $64,504 | 6 |
| 7 | Mercedes-Benz | $61,414 | 8 |
| 8 | Coca-Cola | $58,046 | 7 |
| 9 | Nike | $53,773 | 10 |
| 10 | BMW | $51,157 | 13 |
| 11 | McDonald’s | $50,999 | 11 |
| 12 | Tesla | $49,937 | 12 |
| 13 | Disney | $48,258 | 9 |
| 14 | Louis Vuitton | $46,543 | 14 |
| 15 | Cisco | $43,345 | 15 |
| 16 | $39,342 | 16 | |
| 17 | Adobe | $34,991 | 21 |
| 18 | IBM | $34,921 | 18 |
| 19 | Oracle | $34,622 | – |
| 20 | SAP | $33,078 | 20 |
Toyota’s electrification efforts
Since new Chief Executive Koji Sato took office, Toyota has been more open to battery-electric vehicles.
Toyota advanced its electrification goals in the coming years, with plans to launch ten new electric vehicles by 2026. It also aims to sell 1.5 million EVs by 2026 and 3.5 million by 2030.
Toyota also recently announced a major breakthrough with solid-state batteries, which can apparently boost its electrification push. Toyota claims this new battery tech can cut weight, size, and cost by half.
Considering its strong global presence, Toyota’s significant lead over its rivals is unsurprising. Its portfolio is also wider than all-electric brands like Tesla, offering hybrids, plug-in hybrids, and battery electrics. It would be interesting to see how Toyota would fare in the coming quarters as it attempts to catch up in the EV industry.
