{"id":124400,"date":"2024-02-25T20:30:05","date_gmt":"2024-02-25T13:30:05","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=124400"},"modified":"2024-02-25T20:30:10","modified_gmt":"2024-02-25T13:30:10","slug":"byd-on-brand-value-uptick","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/byd-on-brand-value-uptick\/","title":{"rendered":"BYD on brand value uptick while Tesla on downturn"},"content":{"rendered":"\n

BYD retained its title as China\u2019s most valuable automobiles brand, with its brand value increasing by 20% to USD12.1 billion, according to a new report from Brand Finance, the world\u2019s leading brand valuation consultancy.<\/p>\n\n\n\n

Meanwhile, Tesla\u2019s brand value fell 12% to USD58.3 billion, with Mercedes-Benz overtaking it to become the world\u2019s most valuable automobiles brand (brand value up 1% to USD59.4 billion). Tesla\u2019s drop to second position comes in the context of controversies surrounding Elon Musk which have affected the electric car maker\u2019s reputation.<\/p>\n\n\n\n

The Chinese automobiles sector continues to grow, fuelled by strong global EV interest which is driving investments and exports. While Chinese automobiles brands experienced fluctuations in brand value, brand strength is rising \u2013 Brand Finance research reveals that 19 out of 22 Chinese brands listed in the rankings improved in brand strength.<\/p>\n\n\n\n

The top three most valuable Japanese automobiles brands see improvements as high as 8.32% in brand strength due to strong performance in several brand equity measures. With intensifying global interests in EV, Toyota, Honda and Nissan took the stage at Japan\u2019s biggest car show Japan Mobility Show 2023 to showcase innovative and creative car concepts of the future, with participation from a record total of 475 enterprises.<\/p>\n\n\n\n

Promotional efforts from these Japanese automobiles brands bode well, as they see significant improvements in brand strength. Toyota recorded an increase in Brand Strength Index (BSI) score of 86.13 to 89.01 out of 100, driven by strong performance in Familiarity, Consideration and Recommendation measures. <\/p>\n\n\n\n

Meanwhile, Honda\u2019s BSI score increase from 80.38 to 87.07, was driven by increases across equity and investment in various metrics \u2013 Familiarity, Consideration, Recommendation and Reputation. Nissan witnessed a BSI score increase of 72.35 to 75.54, driven by strong performance across most brand strength metrics, especially in Familiarity and Recommendation.<\/p>\n\n\n\n

Luxury sports car manufacturer, Ferrari, maintains a high brand strength with a score of 90.0\/100, earning a AAA+ rating and solidifying its status as the world\u2019s strongest automotive brand. Research conducted by Brand Finance underscores the brand\u2019s robust Familiarity, Recommendation and Reputation metrics, while optimistic forecasts have further contributed to its increased brand value (up 43% to USD10.6 billion).<\/p>\n\n\n\n

Bosch is the most valuable and strongest auto components brand, with a valuation of USD14.6 billion. Brand Finance research shows it is excelling in metrics like \u2018Brand I Admire\u2019 and \u2018Positive Contribution\u2019, indicating growing respect for its brand and contributions. Updates in Familiarity and Consideration evaluations reinforce this recognition.<\/p>\n\n\n\n

Alex Haigh<\/strong>, Managing Director, Brand Finance Asia Pacific commented: \u201cThe decline in Tesla\u2019s brand value is made all the more compelling against the backdrop of an automotive industry increasingly focused on electric vehicles, however, Tesla\u2019s brand strength persists, a sign that the company\u2019s core identity is resilient. As other EV manufacturers, such as BYD and New Flyer, see considerable growth, Tesla\u2019s enduring high levels of consumer familiarity and recommendation are likely to be pivotal for the company to stay competitive.\u201d<\/p>\n\n\n\n

PEA, EVme ink MoU to enhance charging stations to meet domestic energy demands<\/a><\/p>\n\n\n\n

Worldwide shipments of AI PCs and GenAI smartphones to total 295 million units in 2024<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BYD retained its title as China\u2019s most valuable automobiles brand, with its brand value increasing by 20% to USD12.1 billion<\/p>\n","protected":false},"author":8,"featured_media":124401,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117],"tags":[17603,25097,25098,25099],"class_list":["post-124400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-en","tag-byd-2","tag-automobiles-brand","tag-brand-value","tag-the-chinese-automobiles-sector"],"yoast_head":"\nBYD on brand value uptick while Tesla on downturn - The Story Thailand<\/title>\n<meta name=\"description\" content=\"BYD retained its title as China\u2019s most valuable automobiles brand, with its brand value increasing by 20% to USD12.1 billion, according to a new report from Brand Finance, the world\u2019s leading brand valuation consultancy.\" \/>\n<meta name=\"robots\" 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