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        Toyota 23rd, BMW 24th on the BrandZ's Top 100 ranking

        CarTrade Editorial Team

        CarTrade Editorial Team

        Toyota Motor Corporation, the well-appreciated Japanese multinational auto maker, has again topped charts as the most valuable automobile brand this year. The company lost its spot to the German luxury automotive marque BMW in 2012 ratings. However, this year Toyota Motor Corp. finished with first spot among global auto makers in the BrandZ's Top 100 Most Valuable Global brands, according to the Millward Brown study.

        For the 2013 year, Toyota's brand value increased by 12 per cent at $ 24.5 billion, as against last year. The Japanese auto maker's surge in the brand value charts is mostly due to its face as a manufacturer of eco-friendly vehicles, on the back of progress in the hybrid segment (Toyota Prius). Toyota gained five positions and is ranked 23rd overall in the BrandZ's list, which is the highest position achieved by an automotive brand. BMW saw its brand value declined by 2 per cent at $ 24 billion and lost one position to 24th spot this year.

        Toyota held the top rank amongst car makers from 2006 to 2009, before losing it to BMW in 2010. The Japanese firm again claimed the top spot in 2011, but lost again last year to the German luxury car brand. Toyota's surge in its brand value due to its strong position in the auto markets of China and United States. It would be interesting to see if BMW bounces back again next year and challenge its Japanese rival as the world's most valuable car brand. Further, Honda Motor Co., Nissan Motor Co. and Volkswagen finished at 71st, 86th and 100th positions, respectively on the list.