The world’s global economic environment is comprised of numerous multi-billion dollar companies. Therefore, ranking all of these corporations can be a very arduous task. Yet it is a task that the Interbrand Best Global Brands report has chosen to undertake.
Every year, Interbrand ranks the top 100 most valuable global brands, determining their brand value based upon factors like economic value and brand reception. Unsurprisingly, many of the companies included on Interbrand’s list are automotive companies. One such automaker that has climbed its way up the rankings during the past decade is Hyundai, with a 2017 ranking of 35th place overall.
Climbing the ranks
Hyundai was ranked in 72nd place on Interbrand’s Best Global Brands study back in 2008. Over the course of several years, however, Hyundai was able to ascend to the 35th most valuable brand in 2016. For 2017, Hyundai held onto this ranking, coming in at 35th place once again. This made it the sixth most-valuable automotive brand, ahead of big names like Nissan and Volkswagen. Hyundai’s brand value was estimated by Interbrand to be around $13.2 billion. That’s a long way from the $4.8 billion it was valued at back in 2008.
Creating brand value
Hyundai’s ascent on the list and overall success is not by accident. It’s a culmination of everything that Hyundai has worked to achieve in the present, as well as what it’s working toward for the future. Hyundai delivered 4.86 million vehicles across the globe during the last year. That number is only set to grow as Hyundai introduces new and exciting models. One such vehicle is the Hyundai Kona.
As of right now, Hyundai has received 10,000 pre-orders for the exciting new SUV, demonstrating the excitement that the Hyundai brand is able to build. Of course, vehicles are just one component of Hyundai’s operations. In fact, the company is working to position itself in other sectors of the industry as well.
“Hyundai Motor aims to be a lifestyle brand rather than simply an automotive brand, so we are building on our ‘Modern Premium’ brand direction and moving into new automotive spaces that allow people to experience our brand value at every touch point,” explained Wonhong Cho, Chief Marketing Officer at Hyundai Motor Company. “Our brand philosophy and blueprint for future mobility has resulted in the rise of our brand value and, in addition to quality, technology and price, our creativity and innovation will lead us to achieve sustainable brand growth in the future.”
Hyundai plans to expand into the larger transportation realm with developments in autonomous driving and alternative energy production. Hyundai also works with outside entities, like the Los Angeles County Museum of Art (LACMA), to enrich cultural initiatives.
With all of these future plans in place, it seems like Hyundai will likely climb up even more spots on Interbrand’s ranking by the time the next Best Global Brands report is published.
This article is presented by Key Hyundai in Jacksonville, FL.