OREANDA-NEWS   American electric car manufacturer Tesla has lost its status as the most expensive car brand. This is reported by the international analytical agency Brand Finance.

Mercedes-Benz has regained its leadership position. The value of the German Mercedes-Benz brand has recently increased by one percent to $59.4 billion. The American trademark fell in price by 12 percent, to 58.3 billion dollars. According to analysts, the reason why Tesla was bypassed was the controversy surrounding the head of the company, Elon Musk, which affected the reputation of the car manufacturer.

Japanese Toyota is in third place in the list of the most expensive car brands. German Porsche and BMW rounded out the top five. The top ten also includes companies such as Volkswagen, Honda, Hyundai, Ford and Audi. The most stable brand was named Italian Ferrari, which is supported by high fame and reputation.

After Elon Musk's company warned that production growth rates in 2024 could be "significantly lower" than in 2023, shares fell by 12 percent to $182.63 apiece, a record decline over the past year.

Against the backdrop of the automaker's failures, for the second year in a row, Elon Musk topped the ranking of the most overrated CEOs in the United States according to fellow CEOs compiled by Fortune magazine. The majority of respondents cited his "aggressive goals" and "otherworldly ambitions" to create cars with full-fledged autopilot in the next decade as an argument against Musk.