Electric car manufacturer Tesla has knocked Volkswagen out of the top ten in a list of the 100 most valuable brands, compiled by BrandZ.
The company, which recently received over 373,000 registrations for its new Model 3 car, is worth an estimated $4.4 billion.
After the figures were revealed, BrandZ said: “The Tesla brand has come to represent much more than beautiful cars; it also means breakthrough technology and exhilarating performance. Tesla has become a symbol of a new way of living – clean, bright, innovative and forward-thinking.
“Tesla’s pioneering spirit, as personified by founder Elon Musk, conveys an urgency to shed the old ways of doing things. Earlier this year, 325,000 [now 373,000] consumers were so enamoured with the vision of, and the emotion radiating from the brand that they put down a $1,000 deposit on a vehicle they had yet to see.
“In this case, vision and emotion combined to create real capital.”
Tesla broke into the top-10 list, coming underneath Porsche and Land Rover. The list was topped by Toyota and BMW, with Mercedes-Benz coming in third place just underneath.
BrandZ added: “Tesla shows the impact of effective advertising – in whatever channel – on driving growth; and as its brand gets stronger, so its communications become more efficient and more effective at converting into brand equity. This is a virtuous cycle: the more activity a brand does, the more people will know it; and the more a brand is known to people, the more meaningful – and therefore effective – its advertising becomes.”
After completing his university studies in English and Creative Writing in Cardiff, Jack is now a full time motoring writer at Blackball Media. His love of cars stems from his childhood years when he began to live and breathe all-things automotive.