BrandZ, a leading popular brand of cars in Saudi Arabia, has named Toyota the most valuable automobile brand in the world.

The BrandZ Top 100 rankings were compiled for the tenth year in a row by Millward Brown, a top branding consultant, said a statement.

Dr Adel Ezzat, managing director, Marketing at Abdul Latif Jameel, said: “These rankings are very important because consumer perception is a driving force in determining brand value and direction.

“We believe brands are a combination of business performance, product delivery, clarity of positioning and leadership, today’s announcement by Millward Brown provides a solid evidence to Toyota’s overall rewarding position.”

Toyota is not only one of the most trusted automobile brands in Saudi Arabia, but also seen to offer the most stable, long-term quality and resale value of any car in the market, a significant factor in consumer attitudes, said the statement.

Toyota’s position at the top of the BrandZ rankings is highly valuable as, according to the report, brand building in the automobile industry is becoming increasingly difficult.

The worldwide, millennials and new age customers are showing less interest in car ownership and related technology and these trends, along with increasing online sales of cars, all have collided to make automobile branding more complicated worldwide, it said.

Meanwhile, the distinguished relationship between Toyota and Abdul Latif Jameel goes back more than 50 years, during which the company grew to become one of the leading automotive concerns in the kingdom, and one of the world’s largest independent Toyota distributors in the world. - TradeArabia News Service