The Hyundai Motor Company is the fastest growing global automotive company 'by brand'.
The Korean firm saw its brand value surge 20.5% from a year earlier to $9bn, marking its highest-ever ranking of No. 43, according to brand consultancy Interbrand’s 2013 Best 100 Global Brands.
Hyundai entered the top 50 for the first time this year. Hyundai has posted steady increases both in brand value and ranking. In particular, over the past five years, Hyundai Motor’s brand value has increased 96% – more than doubling the industry average of 42%.
Won Hong Cho, Hyundai Motor’s Chief Marketing Officer, said: “Hyundai’s significant growth in brand value reflects our enhanced status in the global market. This was made possible through global brand campaigns as well as diverse localised brand activities including sports marketing and CSR. We will strengthen our efforts to become the most loved brand by delivering even more value beyond customers’ expectations.”
The Interbrand rankings are calculated using companies’ financial balance sheets combined with marketing activities, while also reflecting each brand’s potential profit.
Hyundai is still ranked behind number 1 Toyota, Mercedes (2nd), BMW (3rd), Honda (4th), VW (5th) and Ford (6th) but is ahead of Audi in 7th, Porsche in 8th and Nissan in 10th place.