Tesla is the fastest-growing brand of 2021—overall, not just in the automotive realm—with a spectacular 184% increase in brand value.
That’s according to Interbrand’s 2021 Best Global Brands ranking of the world’s most valuable marques, covering the period between July 1, 2020 to June 30, 2021. Tesla saw the largest rise in rankings compared to the 2020 edition of the report, climbing 26 places to No. 14 with a brand worth of $36.3 billion.
“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.”
Interbrand Global CEO Charles Trevail
The three key factors Interbrand identified in Tesla’s growth this past year—direction, agility and participation—are pretty self-explanatory. Direction indicates that Tesla has a clear direction the entire organization is aware of, while agility denotes that the brand moves fast, bringing new products and services to market (often to address changing customer needs).
As for participation, it is attributed to those brands that “ultimately bring people on a journey with them and make them part of the movement to create an engaging brand world.”
Interbrand notes in the report that Tesla’s unprecedented rise was achieved “with a ubiquitous social media presence that enhanced its brand values, consolidating its position as the world-leading electric vehicle manufacturer.”
The report, which mentions that Tesla does not do much paid advertising, adds that the brand’s core purpose, “to accelerate the world’s transition to sustainable energy,” resonates with a loyal and growing consumer-base.
“Even with anecdotal reports of reliability issues, Tesla customers score high satisfaction, significantly above peers in this sector.”
Tesla has yet to make Interbrand’s top 10 brands, which tech brands continue to dominate. Apple remains No. 1, with a brand value of $408.25 billion, with Amazon ranking second at $249.24 billion. Microsoft is a relatively close third at $210.19 billion. Remarkably, these top three brands account for a third of the total table value this year.
The top 10 also includes Google, Samsung, Coca-Cola, Toyota, Mercedes-Benz, McDonald’s, and Disney.