According to the 2012 Millward Brown Optimor BrandZ Top 100 Most Valuable Global Brands study, BMW has overtaken Toyota as the most valuable automotive marque.
The BrandZ report scored each manufacturer by looking at income from sales, the brand's market worth and consumer perceptions of the brand.
The report gave BMW an overall brand value of $24.6 billion, roughly 10 percent higher than its 2011 result thanks to a 12 percent increase in global sales.
Meanwhile, Toyota's brand value dropped 10 percent to $21.7b, largely due to supply issues that flowed on from last year's devastating Japanese tsunami.
The report also put Mercedes-Benz in third place, Honda in fourth and Nissan in fifth. Volkswagen sits in sixth position, a result which may irk the German auto giant given it was deemed the top automotive brand in this year's Forbes Global 2000 report, with a market value of $79.5b.
For those curious to know, Toyota was the second-highest automaker in the Global 2000 rankings with a total value of $147.9b (but substantially less profit than VW), while BMW placed third with a Forbes-assesed market value of $61.2b.
Hyundai Motor Co. broke into the Millward Brown rankings for the first time, settling at ninth place with an estimated brand value of $3.5b.
Besides Toyota, Ford and Lexus also suffered a marked drop in brand value, with losses of five and seven percent putting them in seventh and tenth place respectively. Audi was a big winner though, gaining 23 percent this year and sitting at eighth place with a brand value of $4.7b