Hyundai as a brand has grown tremendously worldwide and with products right from hatchbacks to luxury sedans/SUV's to cars like the Veloster, it is no surprise that the brand is the fastest growing automotive company by brand. Hyundai brand value surged 20.5 per cent 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, which has been included in the Best 100 Global Brands list for nine consecutive years, entered the top 50 for the first time this year. Over the past five years, Hyundai Motor’s brand value has increased 96 per cent – more than doubling the industry average of 42 per cent. The figure has jumped more than 20 per cent each year after the company announced its shift to brand management in 2011. Overall since 2005 its brand value jumped 160 percent with its ranking going up by 41 spots.
The Interbrand rankings are calculated using companies’ financial balance sheets combined with marketing activities, while also reflecting each brand’s potential profit.
A lot of this change can be attributed to the fact that there has been a change in design philosophy which has been very successful with cars like the Hyundai i20 and Elantra.