Toyota Overtakes BMW In Global Brand Value Study: BrandZ

It's musical chairs at the top end of BrandZ's annual Top 100 Most Valuable Global Brands study, but it seems only BMW and Toyota are playing. 

Last year it was Toyota toppling BMW in the automotive category, while in 2011 and 2010, it was BMW over Toyota.

The Japanese carmaker is back on top in 2012 however, with its German rival again relegated to second place. 

According to the BrandZ survey, which ranks brands based on their dollar value and buyer feedback, Toyota's 2013 brand value rose 12 percent to US$24.5 billion, while BMW's brand value slipped two percent to $24 billion.