In the latest release of its BrandZ Top 100 Most Valuable Global Brands study, market researchers Milward Brown have given BMW the highest ranking of any carmaker, according to Automotive News. Toyota – last year's winner – finished second, followed by Mercedes-Benz, Honda and Nissan, according to the report.

BMW had last finished atop the rankings in 2010, according to the report, with Toyota taking the crown from 2006-2009. The highest-ranked American brand was Ford at seventh, trailing sixth-place Volkswagen. The top ten was filled out by Audi, Hyundai and Lexus. Toyota's drop was attributed to its production interruptions due to the natural disasters that affected all of the Japanese automakers last year, according to AN.

BMW's win among auto manufacturers was only enough to place it 23rd in the overall brand ranking, with an estimated brand value of $24.6 billion. Apple, the overall winner, according to the report, had a $182.9 billion valuation, ahead of IBM ($116 billion) and Google ($107.9 billion). Toyota's valuation was $21.8 billion, with Mercedes-Benz and Honda far behind at $16.1 billion and $12.7 billion respectively. No other carmaker had a valuation over $10 billion.