According to Interbrand’s latest rankings, Hyundai Motor is among the most valued brands in the world for the fourth consecutive year. Hyundai’s global brand value has grown another 3% since 2017 to a record high of US $13.5 billion. This result successfully places Hyundai in the top 40 Best Global Brands. They are now ranked the 36th most valuable brand and all that through challenging conditions across many global markets.
Following a period of incredible growth which saw a four-fold increase in brand value since 2005, Hyundai Motor maintains the sixth position in the global automotive rankings. This follows a period of exponential growth for South Korea’s leading automotive manufacturer that has seen a four-fold increase in brand value since 2005, increasing from the US $3.5 billion to its current record value.
Considering the global economy and a long list of highly respected brands, that is quite an achievement in itself. They also sold 4.86 million units and maintains a higher position than Audi, Nissan, Volkswagen, and Porsche.
A key factor to Hyundai’s success has been their ongoing commitment and investment into developing their vision for ‘Future Mobility’. In spite of tough market conditions, Mike Rocha, Global Director of Brand Valuation for Interbrand said. “Hyundai Motor is working incredibly hard to realize its vision for Future Mobility by developing affordable autonomous driving technology and connectivity for everyone, under its brand direction ‘Modern Premium’.”
Rocha continued by saying that the launch of NEXO, based on advanced fuel cell technology, and the new high-performance brand N have showcased Hyundai’s technological credentials. It has laid the foundation for a more differentiated positioning for the Hyundai brand. He believes that brands that truly internalise their values and respond quickly to market changes will always add considerable value.
Wonhong Cho, Chief Marketing Officer said, “Hyundai Motor aims to be a lifestyle brand rather than simply an automotive brand, so we are building on our ‘Modern Premium’ brand direction and moving into new automotive spaces that allow people to experience our brand value at every touch point.”
Hyundai’s brand philosophy and blueprint for future mobility have resulted in an increased brand value. In addition to quality, technology, and price, their creativity and innovation will lead them to achieve sustainable growth in the future. This includes the launch of 15 eco-friendly vehicles by 2020, Project IONIQ and open innovation collaborations with companies like Cisco, Baidu Inc., and SoundHound Inc.
Their upcoming fuel cell electric vehicles will also add considerably to their research and development efforts into affordable autonomous driving and connectivity technologies. Not to mention smart cars, robots, artificial intelligence, and future energy sources. The future of motoring certainly looks bright with Hyundai leading the way.