Ford was ranked the number one most valuable brand in Michigan by brand valuation consultancy Brand Finance, as well as the 25th most valuable brand in the country.
The news came out as Brand Finance released its annual list of the top 500 brands in the US, which named 14 different Michigan brands from various industries, according to Crain’s Detroit Business. Chevrolet was ranked 70th nationally – enough to make it the second-most valuable brand from Michigan.
In fact, seven of Michigan’s 14 brands to make the list were automakers: Ford, Chevrolet, General Motors, Buick, Lincoln, Cadillac, and Dodge.
Brand Finance calculates its valuations by essentially estimating how much a company might hypothetically be willing to pay in royalties to license it. This figure is based on an overall brand strength score (derived from emotional connection, sustainability, marketing investment, and other factors), a royalty rate range appropriate for the industry, and forecasted brand revenues. The consultancy valued the Ford brand at $22.4 billion. Chevrolet was valued at $11.5 billion.
(Source: Crain’s Detroit Business)