Tesla is now among the top 10 car brands in the world, a surprising feat given the company has a small slice of the global auto market. Tesla is now ranked 10th among automakers on BrandZ’s latest 100 most valuable brands report. BrandZ said Tesla’s ranking improved not just because of its cars, but because its name is also associated with the latest technology.
“The Tesla brand has come to represent much more than beautiful cars; it also means breakthrough technology and exhilarating performance,” BrandZ said, according to Electrek. “Tesla has become a symbol of a new way of living – clean, bright, innovative and forward-thinking. Tesla’s pioneering spirit, as personified by founder Elon Musk, conveys an urgency to shed the old ways of doing things. Earlier this year, 325,000 (note: now 373,000) consumers were so enamored with the vision of, and the emotion radiating from the brand that they put down a $1,000 deposit on a vehicle they had yet to see. In this case, vision and emotion combined to create real capital.”
Toyota remains the most valuable car brand followed by BMW, Mercedes-Benz, Honda, Ford, Nissan, Audi, Land Rover and Porsche. VW was knocked out, which isn’t too surprising given the spotlight on the firm’s emissions scandal.