Mercedes-Benz has secured the top spot as the world’s most valuable automobile brand, surpassing the previously leading electric car maker, Tesla. This ranking was reported by Brand Finance, a well-known consulting firm specializing in brand valuation.
In the prior year, Tesla claimed first place; before that, Mercedes-Benz held the crown as the most valuable brand. Today, Mercedes-Benz’s brand value has risen by 1 percent to 59.4 billion dollars, while Tesla’s brand value has fallen by 12 percent to 58.3 billion dollars, according to Brand Finance data.
Brand Finance analysts link this shift in the market to controversies surrounding the company’s founder, Elon Musk. The public discussions and media coverage surrounding Musk have had a negative impact on Tesla’s reputation and perceived value.
Following the top two, the next three most valuable automobile brands are Toyota at 52.7 billion dollars, Porsche at 43.1 billion dollars, and BMW at 41 billion dollars.
In China, BYD, the electric car manufacturer, is the most valuable automobile brand there. It saw a 20 percent growth, reaching a value of 12.1 billion dollars.
Mercedes models faced a February recall campaign in Russia. The recall affects AMG GT, C-Class, CLE, E-Class, EQE, EQS, GLC, S-Class, and SL models, all manufactured in 2023. These vehicles were equipped with fuses that did not meet safety requirements, raising the risk of power unit malfunctions and, in some cases, potential vehicle fires.
A former Mercedes vehicle was involved in a head-on collision in Moscow, underscoring ongoing safety and reliability discussions surrounding the brand in the region.