Mumbai: Hyundai Motor Company has reported a 17-per cent appreciation in its brand value, emerging 75th in the latest survey of world's leading brands, jointly conducted by branding consultancy firm Interbrand and the Business Week magazine.
The Korean automaker Hyundai Motor raked 84th in its debut appearance on the Best Global Brands list last year.
The 17-per cent appreciation in brand value of Hyundai makes it the fastest growing automotive brand and places it among the top five biggest gainers in brand value. Hyundai, with an estimated brand value of $4.1 billion, has also way ahead of its competitors.
"This survey tells us what many people already know: That Hyundai is a fast-rising star," said Hyundai''s vice president for brand strategy, Brandon Yea, adding, "Our brand management is supported by continuous improvement in the quality of our products."
Hyundai has been making continuous improvements in the quality of its vehicles, which in turn has fueled a steady increase in sales and customer confidence in the brand. In fact, Hyundai's sales have been built on a balanced management of its brand value and marketing.
Established in 1967, Hyundai Motor Company has grown to become Korea's top automobile manufacturer with a sales network extending to 193 countries. In 2004, Hyundai, which has grown to become the Hyundai-Kia Automotive Group, passed a major milestone with the export of its 10-millionth car.
The group sold 3.7 million vehicles in 2005 and ranked the sixth largest automotive manufacturer in the world. Hyundai includes over two dozen auto-related subsidiaries and affiliates. Hyundai Motor, which employs over 68,000 people worldwide, posted $27.38 billion sales in 2005. Its vehicles are sold in 193 countries through some 5,000 dealerships and showrooms.
And, now, with manufacturing presence in the US, China, India, and Europe, Hyundai is even closer to the customer.
Hyundai's wholly-owned subsidiary in India, Hyundai Motor India Limited (HMIL), is the second largest and the fastest-growing car manufacturer in the country. HMIL currently markets 31 variants of passenger cars in six segments. The Santro in the 'B' segment, Getz in the 'B+' segment, the Accent in the 'C' segment, the Elantra in the 'D' segment, the Sonata Embera in the 'E' segment and the Tucson and Terracan in the SUV segment.
The company recorded combined sales of 252,851 during calendar year 2005 with a growth of 17.26 per cent over year 2004. HMIL has rolled-out 10,00,000 cars in just 90 months since its inception and is currently the largest exporter of passenger cars with exports of over Rs1,800 crores. HMIL has recorded a 27.2 per cent growth in exports in 2005.