Ferrari in pole position again, says Brand Finance Global 500 2020 ranking. Mercedes-Benz is once again is the most valuable car brand in the world.
For the second year in a row, Ferrari, the iconic Italian luxury sports car manufacturer, has retained its position as the world’s strongest brand with a Brand Strength Index (BSI) score of 94.1 out of 100.
Brand Finance determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. According to these criteria, Ferrari is the strongest of only 12 brands in the Brand Finance Global 500 2020 ranking to have been awarded the highest AAA+ rating.
Alongside revenue forecasts, brand strength is a crucial driver of brand value.
As Ferrari’s luxury brand strength maintained its rating, its brand value grew, improving 9% to US$9.1 billion. Ferrari announced five new models in 2019, including the SF90 Stradale and Ferrari Roma, both aimed at new market segments. The company also established a manufacturing agreement with the Giorgio Armani Group to help push Ferrari collections into a more premium space. For years, Ferrari has utilised merchandise to support brand awareness and diversify revenue streams, and are now taking steps to preserve the exclusivity of the brand. The luxury automotive company plans to reduce current licensing agreements by 50% and eliminate 30% of product categories.
“The embodiment of luxury, Ferrari continues to be admired and desired around the world, and its outstanding brand strength reflects this. It is no wonder that many consumers, who might never own a Ferrari car, want a bag or a watch emblazoned with the Prancing Horse, but it is also crucial that the company management remain at the steering wheel of the brand’s future and maintain its exclusive positioning by monitoring the licensing output closely, ” said David Haigh, CEO, Brand Finance.
Top 10 Strongest Brands, according to Brand Finance Global 500 2020 ranking.
Global Brand Finance 500: Mercedes-Benz is the most valuable car brand in the world.
Mercedes-Benz has been able to further increase its brand value in the current “Global 500 2020” ranking of the American brand valuation company Brand Finance and once again is the most valuable car brand in the world. The brand with the star is also the most valuable B2C brand in Europe. Five hundred brands were examined in the course of this study.
With a brand value of 65 billion dollars (up 7.8 percent from 2019), Mercedes-Benz occupies 11th place in the new overall ranking and was able to improve the previous year’s result by two positions. In addition to the advancement of the brand and its increase in sales, hallmark Mercedes characteristics such as premium quality and innovative strength were decisive factors in the positive development in the overall ranking.
“After moving higher up in the Interbrand ranking Best Global Brands, we are proud that Mercedes-Benz is also continuing to progress in Global 500 2020”, said Bettina Fetzer, Head of Marketing Mercedes-Benz Cars. “A great performance by the entire team and an incentive to be right out in front again in the coming year again”.
You can find this year’s Global Brand Finance 500 ranking at: brandfinance.com