Hyundai Gains Nine Percent in Global Brand Value
FOUNTAIN VALLEY, Calif., Sept. 23, 2008 - The Hyundai brand continues to grow as its value rose by nine percent to $4.8 billion in the 2008 Top 100 Global Brands study jointly conducted by Interbrand, a leading consultancy in branding, and BusinessWeek.
Since debuting in 2005 on the annual Best Global Brands list, Hyundai has registered steady annual growth in its global brand value. In the latest study, Hyundai ranked eighth among global automakers, ahead of several prominent competitor brands including Porsche, Lexus and Nissan. By region, Hyundai saw its largest gains in brand value in India, Korea and emerging markets like Russia and Brazil.
Korea's leading automaker has grown in prominence on the global stage thanks to steady improvements in the quality and design of its vehicles, and rapid globalization efforts that have provided Hyundai with a manufacturing foothold in the key emerging markets of India and China.
"Our investment into continuous quality improvement has provided us with the momentum we need to grow the Hyundai brand globally," said Vice Chairman and CEO Dong-Jin Kim.
Perceptions of the Hyundai brand among new car buyers have been transformed as a result of dramatic improvements in the quality and styling of Hyundai vehicles. This, in turn, has fuelled a steady increase in sales and confidence in the brand among both customers and dealers.
Brand management is a top priority at Hyundai. Brand management considerations influence decision-making at all levels of the organization, from styling and marketing to communications, retail and after-sales service.