19 Apr 2018

Toyota takes "most reputable" crown ahead of Air NZ

7:53 pm on 19 April 2018

The car manufacturer Toyota has overthrown Air New Zealand in being ranked the country's most reputable and trusted corporation.

Toyota Corolla

Toyota Corolla Photo: 123rf

The ranking comes from the Reputation Institution's new 2018 index, which shows those two companies sitting pretty in first and second place - the fifth consecutive year they've shared the top two places.

ANZ Bank took the bronze medal.

The index, which has been running since 2010, was curated from the responses of 2,030 people.

They were asked about the trust, esteem, strength of feeling, and respect they hold for 25 different companies.

In order for their responses to be included, respondents have to be familiar with the companies they were being asked about.

The biggest movers on the list were BP - which rose 14 places from 23rd to 9th - and Genesis Energy, which jumped from 13th to 5th.

In the opposite direction, Mainfreight fell nine places from 8th to 17th, and Fulton Hogan also dropped nine places from 11th to 20th.

Fonterra, Mercury, Vodafone and ExxonMobil all languished in the 20s - but the worst news was reserved for Fletcher Building, which took the wooden spoon, dropping three places from last year's survey.

The Reputation Institute's managing director, Oliver Freedman, said the company's well-documented financial issues had hurt its image in the eyes of consumers.

"We were [surveying] in the field in February and March, just after the news of that financial loss and we saw a huge decline in the rating ... and also in perception of their leadership."

Mr Freedman said Fletcher could repair its reputation by going back to basics and focussing on improving the reliability and quality of its core functions.

The Institute also revealed its index for the most reputable and trusted companies in Australia today.

In an ironic twist, the number one spot there went to ...

Air New Zealand.