SAP topped the ranking with a brand value of $48.9bn; Deutsche Telekom was second with $39.2bn; BMW third ($24.6bn) and Mercedes-Benz fourthe ($23.6bn). The final spot in the top five was taken by logistics giant DHL at $18.3bn.

David Roth, CEO EMEA and Asia, The Store WPP, said: “Germany is the juggernaut at the heart of the European economy and its brands are part of consumers’ lives all around the world. The government’s active encouragement of innovation led by Chancellor Angela Merkel and it’s recognition that this is a chance to build a new relationship with consumers is welcome as this is one area where even Germany’s biggest brands are vulnerable to global disruptive rivals.”

The total brand value of the German Top 50 brands was $305.7bn – significantly ahead of the latest UK and French BrandZ rankings, with the UK more than $70bn behind and France lagging by more than $60bn.

Car brands such as BMW, Mercedes-Benz, Audi, Porsche and Volkswagen took the largest share of total brand value with a category value of $66.6bn, followed by technology at $48.9bn and telecom providers at $41.9bn.

The BrandZ Top 10 Most Valuable German Brands 2018