This has nothing to do with BMW's placement on the list, but the "BrandZ Brand Value" list has, and always will be, a completely smoked up line of bullshit. Millward Brown doesn't publish their methodology, and there are clear conflicts of interest.
Valuation is a subjective business to begin with. The only way a valuation has any credibility is if the methodology is clear and transparent. The inputs for the valuation of each ranked member must also be shared, because they may be open to scrutiny. Without this information, who's to say the author of the list hasn't fabricated the ranking?
The entire list is just a marketing piece for a marketing firm. One thing is for sure, they're committed to it. They've been slinging this thing around for years.
Some light reading on the topic:
http://www.marketingweek.com/2011/09...he-full-story/