Hyundai Motor Company’s brand power continues to rise as it was ranked 72nd in the 2007 Best Global Brands survey conducted by Interbrand and BusinessWeek.
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With a brand value estimated at $US4.5bn, the power of the Hyundai brand now surpasses several competitors when measured on a global basis. Among the world’s top automotive brands, Hyundai ranked eighth, ahead of Porsche, Lexus and Nissan, the survey organisers said.
The rise of the Hyundai brand on the global stage has been meteoric. The brand made its debut appearance on the Best Global Brands list in the 2005 survey where it ranked 84th.
“Our brand management is supported by continuous improvement in the quality of our products and diversification of our model lineup,” said Brandon Yea, Hyundai’s vice president for brand strategy.
Public perception of the Hyundai brand has been transformed as a result of dramatic improvements in the quality of its vehicles, the automaker said. In turn, this has fuelled 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 made brand management a top priority. Brand management issues now influence decision-making in styling, marketing and communications as well as at the retail and after-sales service levels.
