Every year, Interbrand conducts a survey of major multinational brands for its ‘Best Global Brands’ rankings. In the automotive industry, such rankings are pretty important. Fortunately for Hyundai, it fared pretty well in this year’s survey. According to Interbrand, Hyundai has continued to grow its global brand value and has successfully climbed the list despite an ongoing global pandemic. But where exactly did it land on this year’s list?
Hyundai ranked fifth for the first time since 2005
Since having entered Interbrand’s top 100 companies’ ranks in terms of brand value in 2005, the automaker has remained in the top 100 for 15 years running. This year, however, that changed.
For the first time since 2005, the automaker has ranked fifth among all automotive brands. According to Hyundai, it’s also the only automotive brand included in this year’s list that has successfully achieved rising brand value amid COVID-19.
Overall, the Interbrand survey shows that Hyundai’s global brand value is up 1% year-on-year, reaching a full $14.3 billion. And not only did it rank fifth among global automotive brands, but it also ranked 36th overall despite market conditions prompted by the pandemic.
The launch of its dedicated EV lineup strengthened the brand
Helping to strengthen the brand is Hyundai’s commitment to its EV lineup, along with the launch of its dedicated EV brand IONIQ. Hyundai says it will leverage its industry-leading manufacturing know-how in EVs to introduce three new models over the next four years. The automaker says it has high hopes of leading the global EV market too.
“Hyundai Motor Company’s brand value rise can be attributed to its substantial expansion of future mobility business and continuous investments in its brand, such as the announcement of its dedicated electric vehicle brand IONIQ,” said Mike Rocha, Interbrand Brand Valuation Global Director.
“We have positively valued the company’s active and proactive approach to the market changes as a sustainable brand, encompassing its expansion of online sales channels, rapid response to social contribution activities and actual increase in sales of battery electric and fuel-cell electric vehicles,” Rocha added.
Hyundai’s investment in hydrogen fuel cell technology has helped strengthen the brand too. The company says it recently delivered the first seven units of the world’s first mass-produced fuel cell heavy-duty electric truck to customers in Switzerland. According to Hyundai, production capacity for its fuel-cell trucks will reach 2,000 units per year by 2021 as well.
Hyundai adapted to the challenges of a global pandemic
Hyundai also spent this year strengthening its online sales. In the U.S. and India, its ‘Click to Buy’ option has delivered great sales results. Hyundai says that to date, more than 95% of its dealerships located in the U.S. are using the Click to Buy platform.
In response to the COVID-19 pandemic, Hyundai also stepped up to support those impacted by the virus. The automaker has provided transportation support for hygiene products, patients, and medical personnel. It has also provided its customers with various financial and service benefits.
Does this mean it’s time for you to buy a Hyundai?
There are plenty of reasons to buy a new or used Hyundai. And the automaker breaking into Interbrand’s top five automotive brands is just one of them.