Wednesday, October 2, 2013
Hyundai Motor's Brand Value Enters Global Top 50
Hyundai Motor Company, the fastest growing automotive company by brand, saw its brand value surge 20.5 percent from a year earlier to $9 billion, marking its highest-ever ranking of No. 43, according to brand consultancy Interbrand’s 2013 Best 100 Global Brands.
Hyundai, which has been included in the Best 100 Global Brands list for nine consecutive years, entered within top 50 for the first time this year. Since joining the list at No. 84 in 2005, Hyundai has posted steady increases both in brand value and ranking. Its brand value surged 160 percent, while its ranking went up 41 spots since 2005.
In particular, over the past five years, Hyundai Motor’s brand value has increased 96 percent, more than doubling the industry average of 42 percent. The figure has jumped more than 20 percent each year after the company announced its shift to brand management in 2011, indicating the successful application of ‘Modern Premium’ brand directions.
“The Hyundai brand, which has established a solid position in the global market, continues to strengthen its image with a track record of building vehicles with leading style, design, and performance,” Interbrand said in a statement. “With stylish design, the Hyundai brand has driven success over the past few years. It is also building a loyal fan base through continued refinements to its lineup and ongoing investment on the brand including UEFA, FIFA, and World Rally Championship sponsorships. Breaking the top 50 barrier in 2013, we look forward to Hyundai’s next innovative move.”
“Hyundai’s significant growth in brand value reflects our enhnaced status in the global market. This was made possible through global brand campaign as well as diverse localized brand activities including sports marketing and CSR,” said Won Hong Cho, Hyundai Motor’s Chief Marketing Officer. “We will strengthen our efforts to become the most beloved brand by delivering even more value beyond customers’ expectations.”
Hyundai announced its shift to brand management at the 2011 North American International Auto Show, unveiling its new brand direction ‘Modern Premium’ and slogan “New Thinking. New Possibilities.” Since then, a wide range of Hyundai Motor’s divisions including product development, design, marketing, sales and after sales, have applied ‘Modern Premium’ values to their work in a sustainable, consistent and systematic way. Enhanced global brand awareness and preference of the Hyundai brand through such efforts contributed to the increase in global sales and profits.
The Interbrand rankings are calculated using companies’ financial balance sheets combined with marketing activities, while also reflecting each brand’s potential profit.