Ferrari has been named the world's most powerful brand by the experts at Brand Finance.

Coming out on top in the 2013 list of the 500 biggest brands on Earth, Ferrari beat the likes of Coca-Cola, PricewaterhouseCoopers, Google and Hermes to take top spot this year.

Despite the fact the Maranello manufacturer cannot compete in terms of raw finance, the brand loyalty and quality of its vehicles helped turn the tide in Ferrari's favour among the experts.

"This achievement proves that even in very tough economic times, Italy can still offer the world businesses of excellence," commented Ferrari chairman Luca di Montezemolo.

"Behind this acknowledgement are exceptional products made by equally exceptional men and women.

The news follows the recent publication of a poll of the most desirable sports car manufacturers in the world by attendees of the recent Future Drive Motor Show, with Ferrari featuring among the top ten.

Other popular choices were Mercedes-Benz, Porsche, Audi, Aston Martin, Bentley, Jaguar and McLaren, as well as the other major Italian marques Maserati and Lamborghini.

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Posted by Brendan Saunders,  Account Manager, The Fuelcard People.