Toyota has been named the world’s most valuable car brand for the 12th time in 14 years beating Mercedes-Benz and BMW to the top gong.

For the 12th time in 14 years, Toyota has been named the world’s most valuable car brand by Kantar Millward Brown in the annual Brandz Top 100 Most Valuable Global Brands 2019, worth a staggering $42 billion. Of the top 10 car brands only Mercedes-Benz ($33.95 billion) and BMW ($33.91 billion) were close to the Japanese car-making giant.

Indeed, Toyota, Mercede-Benz and BMW were the only car makers in the Top 100 list. Fourth-placed Honda is worth less than half of what BMW is valued at.

Brand value is calculated using market capitalisation, profitability and shareholder enthusiasm, as well as the results of a survey of more than 3.7 million consumers in 51 countries about their attitudes towards, and relationships with, brands.

Toyota Australia Vice President Sales and Marketing Sean Hanley said, “Toyota is represented in more than 150 countries with an enormously diverse vehicle line-up that meets the needs and wants of consumers in almost every market segment, supported by strong dealer networks,” Mr Hanley said.

“Toyota is also regarded as a global pioneer in advanced technologies, especially alternative powertrains such as hybrid-electric and fuel-cell electric that are designed to reduce our reliance on fossil fuels,” he said.

“We are also a brand that is highly respected and admired – and only last month in Australia we were named the most trusted automotive company for the 14th year in a row in an independent survey published by Reader’s Digest.