Mercedes-Benz ranks 7th among world's most valuable brands

MANILA: Mercedes-Benz placed seventh in the “Best Global Brands 2023” ranking by brand consulting firm Interbrand.

The brand value of the German luxury carmaker has risen by nine percent to $61.42 billion, driven by its commitment to innovative technologies and sustainability.

Before jumping to the seventh spot, Mercedes-Benz has placed eighth for five consecutive years.

Since 1999, Interbrand has been studying the most valuable brands in the world and ranking the top 100 in the annual “Best Global Brands” list. The study evaluates the candidates in three criteria: financial performance of the brand's products or services, role of the brand in the purchase decision process, and strength of the brand with regard to securing the company's future earnings. This was the first brand evaluation to be certified according to ISO 10668.

“The latest increase in our brand value is a first‑class achievement by the entire Mercedes‑Benz team, which makes us all very proud. The result is both a confirmation and an incentive for us: we are continuously building on our brand heritage to shape the future – with the goal of creating the most desirable cars in the world,” Mercedes-Benz Vice President for Communications and Marketing Bettina Fetzer stated.

In 2021, Mercedes-Benz launched its strategic realignment, which also refined its brand core. With its “Desire for Iconic Luxury,” the company combines two essential characteristics: its reputation as a luxury carmaker that has introduced style-defining icons, and its leadership in automotive development.

“Mercedes‑Benz is focusing more than ever on the radiance of the brand, which has a culture-shaping effect, and is carefully developed further while still honoring the brand's heritage. The goal is to shape the digital age by creating the most desirable vehicles and services in the world,” Mercedes-Benz stated in a press release.

Photos from Mercedes-Benz and Ruben Manahan IV

Also read:

Electrifying entry: Mercedes-Benz introduces 4-car EQ lineup in PH

Mercedes-Benz becomes first carmaker to certify SAE Level 3 system in US

Mercedes-Benz announces global charging network plans, tech updates at CES 2023