The Fastest Growing Auto Brand in 2021 Is…
Advertising consultancy firm Interbrand Global just announced its 2021 Best Global Brands new rankings, with Tesla out on top. It took a 184-percent brand value increase. That puts Tesla at number 14 on the list of most highly valued companies worldwide, according to the report. The number one company is currently Apple, followed by Amazon.
Tesla’s success has seen its value increase to $36.5 billion
The report says that the automaker’s brand worth shot up to $36.5 billion. It explains that Tesla’s success comes “with a ubiquitous social media presence that enhanced its brand values. Tesla has consolidated its position as the world-leading electric vehicle manufacturer.” Remember, that “social media presence” comes without advertising or even a media department.
Interbrand says that there are three reasons for its fast growth. Those are direction, agility, and participation. That indicates the Tesla company as a whole works together for the same goal, and that the goal is clear.
That comes from Tesla’s reason for building its products, which is “to accelerate the world’s transition to sustainable energy.” It is becoming clearer each day that this message is grabbing customers. The purpose resonates with many who feel the time is now to decrease carbon release into the environment.
Interbrand says that for automakers it “is significantly above its peers”
It also comes from the word-of-mouth satisfaction expressed by owners. The report says, “is significantly above peers in the sector.” From Interbrand Global CEO Charles Trevail, “Perhaps unsurprisingly, given the constantly evolving business landscape, employee buy-in, adapting to change and a strong customer base have helped certain brands to thrive.
“It’s worth calling out Tesla’s growth over the past year — a three-figure increase in brand value is unprecedented in the past 22 years of Best Global Brands. Tesla is a brand that epitomizes the importance of brand direction, agility and participation, so I’m unsurprised Tesla made the biggest leap up the Best Global Brands ranking in 2021.”
Number one on its list is Apple, then Amazon
The top 10 brands on the list are Apple, Amazon, Microsoft, Google, Samsung, Coca-Cola, Toyota, Mercedes-Benz, McDonald’s, and Disney. In all, the overall values of these top 10 companies have seen an increase in value of 15-percent. That’s the largest value jump in the 22 years that Interbrand has done the list according to Automotive News.
Interbrand’s rankings are based on a company’s financial performance, purchasing decisions, and competitive strength. It also looks at how a company establishes brand loyalty, which indicates how strong demand is now and into the future. All of that helps to make companies like Tesla lots of profit.
So the future potential for growth is key. Tesla continues to create new products and services. Interbrands concludes with “ultimately, Tesla brings people on a journey with them and makes them part of the movement to create an engaging brand world.”