Tesla Surges 184% to 14th Spot in ‘Best Global Brands’ Report for 2021

Interbrand has released its 2021 Best Global Brands report, detailing the top brands worldwide, including Tesla.

Elon Musk’s automaker saw the biggest leap in brand rankings, seeing its value increase by a 26-point rise to 14th spot, placing it behind Louis Vuitton and ahead of Facebook, in a 184% jump.

“Tesla’s meteoric rise was achieved with a ubiquitous social media presence that enhanced its brand values, consolidating its position as the world-leading Electric Vehicle manufacturer,” explained Interbrand.

“[Its] core purpose, “to accelerate the world’s transition to sustainable energy”, clearly resonates with a growing, loyal consumer-base and demonstrates how successful brands woo consumers with a clear, coherent vision. Even with anecdotal reports of reliability issues, Tesla customers score high satisfaction, significantly above peers in this sector,” reads the report.

The top brand worldwide again is Apple, followed by Amazon and Microsoft in the top three spots. Traditional automakers Toyota, Mercedes-Benz and BMW currently rank ahead of Tesla, but that may change soon. These automakers saw growth of 5%, 3% and 5% respectively, compared to Tesla’s 184% rise. Honda is ranked 25th and saw a 2% decline in brand value.

To qualify onto Interbrand’s list of Brand Value:

• At least 30 percent of revenue must come from outside of the brand’s home region.
• The brand must have a significant presence in Asia, Europe, and North America, as well as geographic coverage in emerging markets.
• There must be sufficient publicly available data on the brand’s financial performance.
• Economic profit must be expected to be positive over the longer term, delivering a return above the brand’s cost of capital.
• The brand must have a public profile and sufficient awareness across the major economies of the world.
• The brand’s ‘Brand Strength Score’ must be equal to 50 or above.

Brand value is calculated by Interbrand through “an analysis of the financial performance of the branded products or services, of the role the brand plays in purchase decisions, and of the brand’s competitive strength.”

Tesla’s stock has been on a massive rally that has hit new all-time highs on Tuesday, as the company’s market cap has now reached $1.039 trillion as of writing, with a share price of $1034.66, up 0.96% for the day.