Tesla loses its status as most expensive automaker

By Alimat Aliyeva

Tesla has lost its status as the most expensive automaker, giving the leadership to Mercedes-Benz, Azernews reports, citing foreign media outlets.

The decrease in Tesla's value occurred against the background of the scandals surrounding Elon Musk, which affected the reputation of the electric car manufacturer and the value of its brand. The price of the American company decreased by 12%, to 58.3 billion dollars, which allowed Mercedes-Benz to become a leader - the value of the German brand increased by 1%, to 59.4 billion dollars. The third place in the ranking remained for Toyota, which is estimated at 52.7 billion dollars.

Analysts of the Brand Finance consulting company have also identified the strongest car brand in the world, which has become the Italian brand Ferrari. BYD was recognized as the most valuable Chinese automaker, whose value increased by 20% to $ 12.1 billion.