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Vehicle value. Toyota’s brand equity is suffering from its raft of vehicle mishaps – and that after Interbrand announced that the car marque topped its latest Most Valuable Brands In Japan rankings.
The motor maker’s massive vehicle recalls will surely dent sales and brand value, even though the company has now gone into PR overdrive with TV and radio ads apologizing to customers, and the company’s US sales chief, Jim Lentz, hold a live chat on popular news-sharing site Digg.com.
For now, Toyota heads rival Honda in the Interbrand rankings, with Sony, Canon and Nintendo filling the next three places. Toyota’s brand value is estimated at $30.5 billion, compared to Honda’s ‘mere’ $18.2 billion.
As far as the entire listing goes, it has a very familiar look to it.
“For Japan’s Best Global Brands 2010, the members of The top 30 were almost completely unchanged from the previous year, with the rank order for the top 10 remaining exactly the same,” Interbrand points out. As was the case last year, the automotive and electronics segments do most of the heavy lifting among global brands originating in Japan.”
Shimano, though, did join the rankings for the first time, coming in at 27. “Boasting an 80% share of the global market for competition and sport bicycle drive train components, the company has earned a coveted place in European markets by establishing a reputation in road racing, the very symbol of cycling culture.”
On the subject of sports, Asics increased its brand value by 11% over the course of 2009, jumping from 26th to 22nd in the rankings.
“Benefiting from a worldwide marathon boom, the company developed a clear global brand strategy, implementing a global brand campaign and following the opening of its London flagship store with another in New York.”