Toyota is the most valuable car brand in the world, new research reveals.
Creating a strong brand image is a vital part of a company's success, so every year London-based valuation consultants Brand Finance put together a list of the 500 most valuable brands in the world.
Figuring out a brand's value is quite complex and varies depending on whether it's a stand-alone company or whether it's part of a larger group of companies. The group looks at how a brand portrays itself to customers and how they are perceived.
For example, Apple has lost the overall top spot as it has "failed to maintain its technological advantage and has repeatedly disillusioned its advocates with tweaks when material changes were expected."
A look through the Global 500 list shows that Toyota is the most valuable car manufacturer in the world, coming 12th in the overall list. Its brand value was estimated at $46.3m (£36.6m), an increase of seven per cent over last year.
Lagging a little behind is German manufacturer BMW, which has a brand value of $37.1m (£29.3m), marking an improvement of six per cent. Rounding out the top three automakers, Mercedes-Benz closed the gap on its rival thanks to its value increasing by 11 per cent to $35.5m (£28m).
Check out the gallery above to see the top 10.