Honda has been ranked 20th in the ‘Best Global Brands 2014’ report published by Interbrand, the world's leading brand consultancy.
This is the 15th annual ranking of the 100 most valuable global brands. The value of each brand is converted into a dollar value to produce the table.
Although its ranking in 20th place remained the same from last year, according to Interbrand the dollar value of the Honda brand increased by 17% to US$21.673 billion dollars (Rs 132,963 crore).
Interbrand's primary analysis for this increase in value included the following three points:
- Honda is returning to the FIA Formula 1 as an engine supplier for McLaren, after a break of more than 20 years. The car and motorcycle manufacturer hopes this will ignite the kind of brand awareness it enjoyed during the golden age of ‘Powered by Honda’.
- The Formula 1 race now includes emerging countries such as BRICS, which are already big markets for Honda motorcycles and growth markets for the brand's cars. Honda aims to improve its relevance and responsiveness in these markets by tailoring regional products more quickly.
- As Formula 1 has moved to a downsized turbo engine, with a structure similar to general production cars, the partnership is a great opportunity for Honda to show its presence and differentiation.
Under the corporate slogan of “The Power of Dreams,” Honda always wants to continue pursuing and realizing dreams with people around the world. Honda will continue its company-wide efforts to remain and further advance as a brand supported by customers all around the globe.
Photograph: The Honda F1 power unit.