Brand Finance logo

Uber reinforces dominance amongst mobility brands   

21 February 2024
Jump to Media Downloads

New data by Brand Finance reveals that Uber’s brand value is more than double the sector’s second highest

  • Enterprise and Hertz stay stable in second and third positions
  • Bolt triples its brand value through strong revenue growth
  • Localiza builds brand strength in Brazil through strong preference and price premium

21 February 2024 [London, UK] -- Uber remains the world's most valuable mobility brand, with a 28% increase in brand value to USD 29.7 billion, according to the latest report by Brand Finance, the world’s leading brand valuation consultancy. Despite moderate revenue growth forecasts, Uber has achieved profitability for the first time, demonstrating the substantial value of its brand amidst a strategic shift towards profitability. Uber’s brand strength also witnesses an improvement from 70.64 to 74.13.

Alex Haigh, Managing Director, Brand Finance, Asia Pacific commented:

“Uber's agility in navigating market changes and leveraging brand strength for financial growth are indicative of an effective and modern approach to brand and business management. Uber’s brand value of nearly $30 billion is more than double the second-ranked brand, Enterprise, valued at $12.8 billion. The strategic adjustments in Uber’s business model, coupled with an acute understanding of consumer behaviour, have contributed to Uber's increasing brand value, as evidenced by the company's very comfortable position at the top of the 2024 ranking.”

Enterprise (brand value up 66% to USD12.8 billion) and Hertz (brand value up 27% to USD4.7 billion) maintain their positions as the second and third most valuable brands in the sector. Enterprise's brand strength experienced a slight decrease, attributed to a fall in consumer familiarity and ESG-related performance. In comparison, Hertz's brand strength saw a marginal increase. Despite challenges with the Hertz app and a recent strategic shift towards conventional vehicles, Hertz performed well in recommendation metrics, reflecting positive consumer sentiment.

Bolt has seen the largest brand value increase in the sector, more than tripling last year’s value of USD138 million to USD457 million in 2024. This growth is underpinned by a modest increase in brand strength, from 63.58 to 64.2 and significant revenue growth.Localiza has established itself as the strongest brand in its sector, with dramatic 90% growth in brand value to USD2.3 billion. Localiza's strong foothold in key Brazilian markets, supported by robust financial performance, are also reflected in the company’s surging brand strength, with its Brand Strength Index (BSI) jumping from 66.41 to 78.47 year on year. Brand Finance research reveals that customers not only prefer Localiza over competitors but arewilling to pay a premium for its services, evidence of the brand's market position and customer satisfaction.

Media Downloads

These images may be downloaded and used for publication. Please attribute to Brand Finance.
Copyright © 2024 Brand Finance. All rights reserved.

Media Contacts

Penny Erricker
Communications Executive
Brand Finance

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.

Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.

Brand Finance is a regulated accountancy firm, leading the standardization of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.

Definition of Brand

Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.

Brand Strength

Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.

Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.

Brand Valuation Approach

Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.

The steps in this process are as follows:

1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.

2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.

3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.

4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.

5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.

6 Apply the royalty rate to the forecast revenues to derive brand revenues.

7 Discount post-tax brand revenues to a net present value which equals the brand value.


Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.

The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.

Get in Touch