Ferrari aficionados will not be surprised to learn their favourite marque has been ranked the most powerful automotive brand.
A recent study by Brand Finance, a strategy and valuation consultancy, found Ferrari compared favourably to all other automotive companies in terms of marketing investment, familiarity, loyalty, employee satisfaction, and brand reputation.
Given the brand’s performance in all of the above areas, Brand Finance determined the Italian automaker has a ranking of AAA+—the highest score possible under their scoring system.
“The fact Ferrari has boosted revenues without compromising brand strength suggests that it has found the perfect formula to sustainably exploit brand equity to maximize shareholder value,” said David Haigh, Brand Finance CEO.
“The prancing horse on a yellow badge is instantly recognizable the world over, even where paved roads have yet to reach. In its home country and among its many admirers worldwide Ferrari inspires more than just brand loyalty, more of a cultish, even quasi-religious devotion, its brand power is indisputable.”
Surprisingly, VW tied for third place with Seat despite major government and media backlash over Dieselgate, the emission control software scandal that’s plagued the company the past few years.
Ferrari lagged behind just LEGO, Nike, and Google in terms of brand power across all industries, though it was number one ahead of them all three years ago.