After Forbes magazine proclaimed BMW the most powerful car maker, BrandZ top 100 comes and says that this year BMW lost the title to the Japanese manufacturer, Toyota.

The market research that yielded these results was conducted by Millward Brown, and the difference between the two brand is not that big.

With a 12 percent increase, Toyota now stands at 24.5 billion USD value, while BMW stands at 24 billion USD, seeing a 2 percent decrease. While Toyota has been number one from year 2006 and up to 2009, and then again in 2011, BMW provided plenty of competition, stealing the title in 2010 and 2012.

The market research attributed Toyota’s success on the fact that they were a big player in the electric vehicles market. Meanwhile, the reason why BMW lost the title was because the German car maker didn’t introduce new models on the market.

But next year, BMW plans a lot of new surprises like the highly anticipated BMW i3, which will not only be a completely new vehicle, it will represent a competitive player on the EV market. Time will tell if BMW will get back the title they won from the Japanese.