Tesla is now # 8 on the list, ahead of prestigious automakers such as Porsche and Land Rover.

Toyota Still #1

Toyota Still #1

According to the BrandZ Top 100 Most Valuable Global Brands study released by market researcher Kantar Millward Brown, Tesla rose two spots to land in number 8 on the list of the most valuable automotive brands.

Toyota remains in the lead, with BMW and Mercedes-Benz rounding out the top three spots.

Automotive News reports:

"Toyota has been No. 1 in 10 of the 12 years the study has been conducted."

"Tesla, which increased its brand value 32 percent to $5.9 billion, overtook Land Rover and Porsche to jump to No. 8 in this year's ranking from No. 10 last year among automotive brands."

Peter Walshe, Global BrandZ director at Kantar Millward Brown, had this to say in regards to Tesla:

“The Tesla story is interesting because it is not just the cars it offers now, it is the promise for the future. There is a perception that it offers a fantastic brand experience, even among non-owners. The only other brands that I’ve seen have this kind of appeal before they got into mass market were Apple and Facebook."

Here's the list of the Top 10 World's most valuable car brands in billions, including each automaker rank in top global 100 of all brands and the % of value change from 2016.

1. Toyota $28.7 (30) -3 2. BMW $24.6 (35) -8 3. Mercedes-Benz $23.5 (40) +4 4. Ford $13.1 (83) 0 5. Honda $12.2 (91) -8 6. Nissan $11.3 (100) -1 7. Audi $9.4 (*) -1 8. Tesla $5.9 (*) +32 9. Land Rover $5.5 (*) +17 10. Porsche $5.1 (*) +16 (*) Did not rank in the top 100 global brands

And a note on the rankings:

"The study combines measures of brand equity based on interviews with more than 3 million consumers globally using data from Bloomberg and Kantar Worldpanel."

Source: Automotive News