BMW has usurped Toyota as the world's most valuable car brand, according to an annual survey commissioned by communications services group WPP.
The BrandZ Top 100 Most Valuable Global Brands survey, which is conducted by research company Millward Brown Optimor and is now in its seventh year, identifies and ranks the world's most valuable brands by their dollar value, an analysis based on financial data, market intelligence and consumer measures of brand equity.
Toyota topped the car sector of the survey in 2011, but its brand value has fallen by ten per cent in the past 12 months, whereas BMW's has risen by the same amount.
The Bavarian manufacturer's rise was aided by record sales growth around the globe, as was fellow German marque Volkswagen, which enjoyed a 15 per cent increase in its brand value and moved into the overall Top 100 of BrandZ's Most Valuable Global Brands.
Hyundai continued its global rise by breaking into the top ten of the survey's car brand sector for the first time.