After three years of turmoil and consumer skepticism, the automotive industry is beginning to rebound. With new car sales finally on the rise, two manufacturers - Mercedes-Benz and Honda - reign supreme in successfully harnessing their equity and leading their industries as Brands of the Year. In fact, Mercedes-Benz is enjoying this achievement for the second year in a row, according to the 2012 Harris Poll EquiTrend® (EQ) study, a yearly brand-health assessment from Harris Interactive, one of the world's leading custom and multi-client market research firms.
Mercedes-Benz Retains Title as Lead Luxury Auto Brand
In a segment where luxury is synonymous with superb quality and craftsmanship, the Mercedes-Benz brand resonates more strongly with consumers than any other luxury automotive brand included in the Harris Poll EquiTrend study. Mercedes-Benz's strong performance in EQ has earned it the Luxury Automotive Brand of the Year accolade for the second year running.
"Mercedes-Benz and Lexus have been battling over this top ranking for the last eight years," says Mike Chadsey, Senior Consultant for Harris Interactive's Customer Relationship Consulting team. "Mercedes has ranked at the top for two years in a row and four of the last eight years, while Lexus has made it to the top spot three times. BMW is also usually within the top three, with especially strong scores over the last three years. Quality and Purchase Consideration both play important roles in these annual rankings," says Chadsey.
Beyond these perennial leaders, Cadillac, Acura, Infiniti, and Audi also rank above the category's average equity score.
Honda: America's Favorite Full Line Automaker
The ranking was close and the results are in - Honda overtakes both Toyota and Ford to become the 2012 Full Line Automotive Brand of the Year. It replaces last year's top-ranked automaker, Ford.
Having overcome some quality concerns and recalls in 2011, Toyota has come back strong. It climbs into second place, which is up two notches from its fourth-place position in 2011, and that much closer to the top spot it held only two years ago in 2010. Toyota's increase in brand equity is the largest of the brands measured in the category.
Although its equity score has actually increased, Ford has slipped to third place in the 2012 rankings- a further testament to the highly competitive nature of the automotive market. Chevrolet, Nissan, Subaru, Hyundai, and Volkswagen also rank above average in the full line automotive category.
