Japanese automaker Toyota rose to the top in the latest brandZ study to become the most valuable car brand for 2018. The latest study contrasts a Brand Finance study earlier this year, which named Mercedes-Benz as its most valuable car brand.

According to the brandZ study, the Toyota brand is worth just shy of $30 billion. Mercedes-Benz is ranked second with a value of $25.7 billion. Looking back at last year's data, Toyota grew its value from $28.6 billion, while Mercedes-Benz grew from $23.5 billion. In 2017, BMW ranked second, rather than Mercedes.

In fact, Toyota has remained number one on the brandZ list since 2007, though its value has fluctuated over and under $30 billion.

Rounding out the rest of the car-brand category are BMW, Ford, Honda, Nissan, Audi, and Volkswagen. VW returns to the list for the first time since 2015.

Tops on the list? Google at $302 billion followed closely by Apple at $300.6 billion.

As mentioned, the findings contrast an earlier Brand Finance study from March. Per that study, Mercedes-Benz ousted Toyota and rival BMW for the top spot with a 24 percent year-over-year growth in its brand value to $43.9 billion. The study proclaimed Toyota's value sits at $43.7 billion.

Both studies have one major conclusion in common, though: China is on the move. The Chinese market remains an important factor in the growth for all global brands. In 2018, two Chinese companies, Alibaba and Tencent, cracked into the top 10. It's also likely that the growing Chinese market was a factor in every single category seeing growth this year.