Ferrari is the strongest brand in the world, says Brand Finance
DAVOS, SWITZERLAND - Ferrari is the strongest brand in the world for the second year in a row, according to independent brand value consultancy Brand Finance.
Presenting its Brand Finance Global 500 report for 2020 at the World Economic Forum at Davos this week, the consultancy gave the Italian sports car specialist a Brand Strength Index score of 94.1 out of 100, with Ferrari topping the rankings as one of only 12 brands that were awarded the highest AAA+ rating.
To calculate the relative strength of a brand, Brand Finance uses various metrics that evaluate aspects such as business performance, stakeholder equity and marketing investment.
Ferrari was also commended for announcing five new models during 2019, including the Roma touring coupe and the hard-core SF90 Stradale, both of which are aimed at widening the marque’s customer base.
When it comes to overall value, however, Ferrari only ranks in 206th position among the world’s 500 most valuable brands in 2020, with its brand value of US $9.1 billion, which is around R130bn at today's exchange rate.
No car company made it into the top 10 Most Valuable Brands, although Mercedes-Benz made 11th spot with a brand value of $65 billion (R932bn). The German carmaker is followed by Toyota in 15th at $58bn and Volkswagen in 25th, at a value of $44.8bn.
The fourth most valuable car brand was BMW, 30th overall with a value of $40.4bn. It was followed by Porsche (41st, $33.9bn), Honda (45th, $33.1bn) and the Hyundai Group (82nd, 20.7bn).