Another week, another jab at Toyota's lofty image. Now BMW has overtaken Toyota as the world's most valuable automotive brand, according to an annual survey of brand equity.
The rankings are included in the BrandZ Top 100, which is compiled by the market research company Millward Brown. The firm analyzes the financial and business performance of companies and interviews more than 1 million consumers worldwide.
Peter Walshe, Millward Brown global brand director, said Toyota's massive recall campaigns started to ravage its brand value in late 2009.
But he expects the Japanese company to bounce back.
Said Walshe: "It is a strong brand and is trying hard to overcome the damage."
Who's on the top of the Top 100? Google, IBM and Apple.