|Hyundai Brand Value Rises Businessweek Calls Brand “Big Winner”|
|--- Jumps nine positions in Best Global Brands survey by BusinessWeek/Interbrand
--- Biggest increase of automakers
(Seoul, Korea) Hyundai Motor Co. has emerged as one of the world’s leading brands ranking 75th overall, according to the 2006 Best Global Brands survey jointly conducted by Interbrand, a leading consultancy in branding and BusinessWeek, the New York-based global media organization.
The 17 percent increase since last year in the value of the Hyundai brand earned the Korean automaker the title of fastest growing automotive brand and a place among the top five biggest gainers in brand value, causing the magazine to label Hyundai one of its “Big Winners”. Last year, in its debut appearance on the Best Global Brands list, Hyundai ranked 84th.
With a brand value estimated at $4.1 billion, the power of the Hyundai brand on a global basis now surpasses several competitors.
“This survey tells us what many people already know: That Hyundai is a fast-rising star,” said Hyundai’s Vice President for brand strategy, Brandon Yea. “Our brand management is supported by continuous improvement in the quality of our products,” he added.
Public perceptions of the Hyundai brand have been transformed as a result of dramatic improvements in the quality of Hyundai vehicles. In turn, this has fueled a steady increase in sales and confidence in the brand among both customers and dealers.
Hyundai’s pursuit of a better balance between quantitative and qualitative growth has benefited from the company’s brand management. Brand management issues now influence decision-making in styling, marketing and communications as well as at the retail and after-sales service levels.