Toyota remains the most valuable global car brand in the 11th annual BrandZ Top 100 Most Valuable Global Brands ranked by WPP and Millward Brown.

The automaker achieved the ranking for the third year in a row, with a 2% increase in brand value to $29.5 billion. BMW ($26.8 billion), Mercedes-Benz ($22.7 billion), Honda ($13.2 billion) and Ford ($13.1 billion) have also retained their 2015 positions to round out the top five.

Newcomers to the list include Porsche at number nine and Tesla at number 10. Mercedes-Benz had the most growth of the car brands, growing 4% to $22.7 billion.

Millward Brown attributes Toyota’s top finish to the automaker having worked hard over the last year to combine technology leadership with a business strategy that appeals to its broad target market.

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