Toyota has retained its top spot in the automotive sector of Interbrand’s 2018 Best Global Brands list with a brand value estimated to be around US$53.404 billion, which is a 6% increase from last year. On a wider scope, the Japanese automaker was ranked seventh overall, with brands like Apple, Google, Amazon, Microsoft, Coca Cola and Samsung ahead of it.

Mercedes-Benz also saw its brand value grow by 2% to US$48.601 billion, allowing it to leapfrog over Facebook to the take eighth spot just behind Toyota. It should be noted that both Mercedes-Benz and Toyota car managed to remain in the top 10% of the 100-brand list.

Looking at others that made the cut, BMW experienced a slight decline in brand value by 1% to US$41.006 billion, and is unchanged from its 13th overall spot. Honda meanwhile, occupied the 20th spot with US$23.682 billion (+4%); Ford at 35th with US$13.995 billion (+3%); and Hyundai at 36th with US$13.535 billion (+3%).

Nissan, Volkswagen and Audi found themselves in close proximity to one another by occupying the 40th, 41st and 42nd positions, respectively. In the lower half of the list, Porsche found itself in the 52nd spot with US$10.707 billion (+6%), Kia in 71st with US$6.925 billion (+4%) and Land Rover in 78th with US$6.221 billion (+2%).

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Ferrari was named the top growing brand among automotive companies in this year’s list, with an 18% growth in brand value to US$5.76 billion, which is good for an 80th position. Rounding up the list of automotive companies in the list are MINI with US$5.254 billion (+3%), Harley Davidson with US$5.161 billion (-9%) and a new entry – Subaru with US$4.214 billion.

To be included in Interbrand’s Best Global Brands, a company must meet several terms, where at least 30% of its revenue must come from outside of the its home region. Furthermore, the brand must have a significant presence in Asia, Europe, and North America as well as broad geographic coverage in emerging markets.

There must also be adequate publicly available data on the brand’s financial performance, and any economic profit must be expected to be positive over the longer term, delivering a return above the brand’s cost of capital. Lastly, the brand must have a public profile and awareness across the major economies of the world.