Hyundai has maintained its position as one of the world’s 40 most valuable brands for the third year in a row, according to the latest Best Global Brands report from respected international consultancy Interbrand. The carmaker retained its place as the world’s 35th most valuable brand and sixth most valuable automotive brand, despite challenging conditions in many global markets.
Interbrand’s rankings are calculated using companies’ financial balance sheets combined with marketing activities, while also reflecting each brand’s potential profit. The analysis assessed Hyundai’s brand value as growing to US $13.2 billion for 2017 – a 5.1% increase on the previous year. The ranking comes after Hyundai sold 4.86 million units annually worldwide, and places the Hyundai name above Audi, Nissan, Volkswagen, and Porsche.
This follows a period of exponential growth for South Korea’s leading automotive manufacturer that has seen a fourfold increase in brand value since 2005, rising from US $3.5 billion to its current record value.
“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 touchpoint,” said Wonhong Cho, Chief Marketing Officer at Hyundai Motor Company. “Our brand philosophy and blueprint for future mobility has resulted in the rise of our brand value and, in addition to quality, technology and price, our creativity and innovation will lead us to achieve sustainable brand growth in the future.”
The annual Interbrand Best Global Brands report identifies the 100 most valuable global brands, analyzing the ways in which the strength of a brand benefits organizations, from delivering on customer expectations to driving greater economic value. The ranking is based on a combination of attributes, each contributing to a brand’s cumulative value. These include financial performance of branded products and services, the role the brand plays in influencing customer choice, and the strength of the brand in commanding a premium price or securing earnings for the company.