Mercedes-Benz remains the world’s most valuable luxury brandOctober 22, 2020
When it comes to luxury, the Mercedes-Benz S-Class is undoubtedly king. For four years in a row, no other luxury car brand compares to it.
Mercedes-Benz is a marvel of innovative technology and is simply amazing in every way. Therefore, it is not surprising that the brand is the leader in the ranking of luxury car manufacturers. Various studies are conducted on this topic, in which different agencies use different metrics to determine brand value, but one of the most authoritative is Interbrand, an American brand consulting company that evaluates the world’s best brands, including in the automotive sector. According to the Interbrand rating, Mercedes-Benz is the most expensive luxury brand for the fourth year in a row.
Unsurprisingly, Mercedes-Benz’s closest competitor is BMW, and with the introduction of new luxury models, the Bavarian brand could improve its current rankings and take 11th place next year. However, Mercedes is in eighth place in 2020 and is the only European company to make it into the top ten, despite having to pay billions in fines for the emissions scandal.
While BMW continues to fill little-known niches and surpass Mercedes-Benz, the latter takes the opposite approach, optimizing its model offerings and aiming to keep costs down. We have no experience running a car company, but this strategy sounds better than BMW. The only other automakers to make it into the top 20 are Honda (in last place) and of course Toyota (in seventh place).
Mercedes is likely to continue to lead with its products and strong brand presence, and is understandably proud of this ranking. Bettina Fetzer, VP Marketing at Mercedes-Benz AG, says: “The key to our success is our brand’s continued focus on the needs of our customers, for whom we create unusual products and brands using a wide range of digital and physical formats.”
According to Interbrand, the Mercedes brand is worth $ 49.268 billion, and while that figure pales in comparison to the value of brands like Apple and Amazon, it just goes to show that continuous product innovation and improvement is very important for automotive brands.
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