Ferrari is the world’s strongest car brand, and among the top ten strongest brands generally, according to valuation and strategy consultancy Brand Finance.

Brand Finance assesses brands using criteria such as corporate reputation, marketing investment, and familiarity to determine their strength, and designated Ferrari an AAA+ rating, the highest possible.

Ferrari’s brand value was calculated to be $6.15bn (£5bn), a rise of 40%, which Brand Finance attributed to an increase on the production cap from 7,000 to 9,000 vehicles.

Brand Finance chief executive officer David Haigh said: “The fact Ferrari has boosted revenues without compromising brand strength suggests that it has found the perfect formula to sustainably exploit brand equity to maximise shareholder value.”

The same study found that Toyota was the most valuable brand, increasing 7% to $46.3bn, as revenues increased 32% year on year.

Volkswagen recently overtook Toyota as the biggest car manufacturer by unit volume, but sales are split between many brands. One of the Volkswagen brands, Porsche, was ranked the second strongest car brand.