Tesla is now the world’s most valuable car brand worth $66.2 billion, according to new numbers. This represents a 44% increase over previous figures and puts the company ahead of Mercedes-Benz and Toyota.
The numbers represent a huge increase over Tesla’s value before the pandemic began in 2020, as the EV-version reports are based on figures shared by Brand Finance.
Tesla’s brand value is now more than five times its pre-pandemic valuation, surpassing last year’s leader Toyota, whose brand value fell 18% to USD52.5 billion, and Mercedes-Benz, last year’s runner-up, whose brand value fell 3% to USD58. 8 billion.
It is said that the increase in brand recognition in recent years has helped Tesla rise to the top as people are increasingly turning to electric cars.
However, it remains to be seen whether Tesla can continue this upward trajectory over the years — Mercedes-Benz and Toyota are both giants whose likes don’t just fall by the wayside.
Tesla still has some new products to hit the market in the next year or two, suggesting that its brand value could continue to grow. The Cybertruck is expected to go into production after 2023 with the Roadster arriving sometime after that.
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