Cision PR Newswire
Hyundai Motor's Brand Value Rises 18 Percent, Driven by Accelerated Electrification and Future Mobility Vision
News provided byHyundai Motor Company
Nov 21, 2023, 12:00 AM ET
- Hyundai Motor's brand value reaches $20.4 billion in Interbrand's 'Best Global Brands 2023,' ascending in valuation for 13 consecutive years
- This represents the third highest year-over-year valuation increase out of 100 brands
- Brand rank rose from 35th to 32nd — the first increase in rank since 2016, underlining Hyundai Motor's leading role in the automotive industry's paradigm shift
- Interbrand's positive appraisal is attributed to the brand's activities regarding equality and sustainability as well as agility in responding to changing consumer needs
- The company's future-oriented mobility vision, supported by its award-winning EV lineup and hydrogen vision, shows further potential for success
SEOUL, South Korea, Nov. 21, 2023 /PRNewswire/ -- Hyundai Motor Company today announced that its brand value reached $20.4 billion in Interbrand's 'Best Global Brands 2023', ascending in valuation for 13 straight years. This represents the third highest year-over-year valuation increase out of 100 brands. The company's brand rank rose from 35th to 32nd — the first increase in rank since 2016, based in part on Hyundai Motor's accelerated electrification and future mobility vision.
In 2014, Hyundai Motor's brand value reached $10 billion, and for the first six years, its valuation rose $4 billion. However, following Euisun Chung's appointment as Hyundai Motor Group's Executive Chair, its valuation has increased $6 billion in merely three years. Ever since it's entry in Interbrand's 'Best Global Brands' in 2005 with a valuation of $3.5 billion, the numbers have multiplied nearly six times.
Hyundai Motor's accelerated success of late can be attributed, in part, to the leadership of the top management team led by Executive Chair Chung. They have played a pivotal role in guiding the company's strategic direction as a Smart Mobility Solutions Provider in alignment with its vision of 'Progress for Humanity.'
"As the automotive industry undergoes a transformation, Hyundai Motor is exploring future mobility solutions to respond to fast-changing consumer needs," said Sungwon Jee, Senior Vice President and Global Chief Marketing Officer at Hyundai Motor Company. "We are committed to a better future for all of humanity."
"Hyundai Motor Company is making big strides in forwarding its vision of 'Progress for Humanity' through the IONIQ brand," said an Interbrand representative. "Hyundai continues to impress with its authentic communication regarding core human values such as sustainability. We look forward to the company's growth in the evolving automotive industry."
More information about Hyundai Motor can be found at: https://www.hyundai.com/worldwide/en/
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SOURCE Hyundai Motor Company
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