Tesla Recognised As Global Brand

Wed 21st Oct 2020

An influential list of the world’s biggest brands has finally recognised Tesla as a leading name after ignoring the innovative American car manufacturer for the last two years.

The Best Global Brands Report ranks brands across all industries based on three key components; financial performance, the role the brand plays in purchase decisions and the brand’s competitive strength.

“Leadership, engagement and relevance are three consistent themes we are seeing as brands try to navigate the rapidly changing business landscape,” said Interbrand Global CEO Charles Trevail.

“They are the keys to unlock results in the current crisis, building customer confidence and business resilience. By setting out powerful ambitions and pursuing them with courage and conscience, brands can help us lift our heads, make sense of chaos, and see beyond it, championing a new decade of possibility.”

Unsurprisingly the world’s biggest tech companies sit at the top of the pile, with Apple, Amazon and Microsoft the top three. In terms of auto brands, Toyota is the biggest brand name, but it is Tesla’s inclusion in the 2020 list which has raised the most eyebrows, possibly because they had never made the list before.

 “Tesla’s brand – its flag in the future – has driven demand and advocacy from its inception. Not only that, it has also built enormous liquidity by attracting and retaining a loyal following of retail investors,” the report said.

“In July, Tesla overtook Toyota as the world’s most valuable car maker — never mind that it made 370,000 cars against Toyota’s 10 million and a fraction of its revenues. There are industrial drivers behind this performance – most notably, a significant edge in battery technology and software. But these are the results of coherent moves – innovation, launches, adjacencies and, yes, buzz – inspired by a clear direction: a clear purpose translated into subsequent industrial targets.”