Ferrari, one of the most well-known and iconic automotive names, has been awarded the title of the world’s strongest brand for the second consecutive year by Brand Finance, the leading international independent brand valuation and strategy consultancy. The Italian sports car maker, with such icons as the 250 GTO, 308 GTS, Dino, Enzo, Testarossa, and LaFerrari, scored a Brand Strength Index (BSI) of 94.1 out of a possible 100. This puts Ferrari at the top of the ranking of only 12 brands to be awarded the highest AAA+ rating.
Presented at the World Economic Forum at Davos, the Brand Finance Global 500 2020 report calculates the value of the Ferrari brand at US$9.1 billion with year-on-year growth of 9%, boosted by positive sales and overall brand strength. Born out of racing team Scuderia Ferrari which was formed in 1929, Maranello-based Ferrari now has in its car line-up the F8 Tributo, SF90 Stradale, and Ferrari Roma, among others.
Brand Finance determines brand value by estimating the net economic benefit to the brand owner of licensing the trademark on the open market. It measures brand strength on the basis of the efficacy of a brand’s performance on intangible measures compared to its competitors.