Hyundai Motor betters its brand value

Our Corporate Bureau
29 July 2006

Mumbai: Hyundai Motor Company has reported a 17-per cent appreciation in its brand value, emerging 75th in the latest survey of world's leading brands, jointly conducted by branding consultancy firm Interbrand and the Business Week magazine.

The Korean automaker Hyundai Motor raked 84th in its debut appearance on the Best Global Brands list last year.

The 17-per cent appreciation in brand value of Hyundai makes it the fastest growing automotive brand and places it among the top five biggest gainers in brand value. Hyundai, with an estimated brand value of $4.1 billion, has also way ahead of its 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, adding, "Our brand management is supported by continuous improvement in the quality of our products."

Hyundai has been making continuous improvements in the quality of its vehicles, which in turn has fueled a steady increase in sales and customer confidence in the brand. In fact, Hyundai's sales have been built on a balanced management of its brand value and marketing.

Established in 1967, Hyundai Motor Company has grown to become Korea's top automobile manufacturer with a sales network extending to 193 countries. In 2004, Hyundai, which has grown to become the Hyundai-Kia Automotive Group, passed a major milestone with the export of its 10-millionth car.