Tesla ranked world’s most valuable car brand in 2023/ Largest by market cap

$Tesla (TSLA.US)$
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The brand value of Elon Musk's car company surged by 44% to $66.2bn, (about R1.2-trillion), according to the brand valuation consultancy. That makes Tesla the world’s most valuable car brand for the first time, and the first car brand that doesn’t manufacture internal combustion engines.

Tesla is now worth more than five times its pre-pandemic value, and overtakes last year’s leader, Mercedes-Benz, which dropped 3% in brand value to $58.8bn. The brand value of last year's runner-up, Toyota, fell 18% to $52.5bn.

The top 10 most valuable automotive brands in 2023. Picture: SUPPLIED

Global market value of car maker as of March 20, 2023 by market cap