Hyundai Motor’s brand valuation climbs to $23-B

MANILA: Hyundai Motor has gained a brand valuation of $23 billion (around P1.377 trillion), ranking 30th globally in international consulting company Interbrand’s “Best Global Brands in 2024.” 

For reference, the marque’s current valuation represents a 63 percent increase in terms of brand value over five years. It likewise marks the firm’s 14th consecutive year of increasing brand valuation. 

“Hyundai Motor’s two-rank increase in this year’s Best Global Brands is a testament to the company’s achievements across both business and branding fronts. New global sales records, in tandem with continuous efforts to fortify the Ioniq and N, propel Hyundai Motors forward in the direction of genuine fandom creation,” Chief Executive Officer (CEO) of Interbrand Seoul Jihun Moon said. 

Per Hyundai, the key mover for its major gains in brand value is linked with its award-winning global initiatives that push forward its vision of “Progress for Humanity.” 

Likewise reinforcing the Korean marque’s competitiveness is the Hyundai Ioniq 5 N’s “World Performance Car” award at the 2024 World Car Awards and the brand’s numerous J.D. Power U.S. APEAL Study accolades. 

The brand’s value was also boosted by other strategic initiatives such as the completion of the Hyundai Motor Group Innovation Center Singapore, the new Hyundai Motor Group Meta Plant America in Georgia, USA, its new electric vehicle manufacturing facility in Ulsan, South Korea, and a complete knockdown factory in Saudi Arabia. 

However, while the new height of its brand valuation is a huge milestone, Hyundai is not resting on its laurels just yet. On the contrary, it has recently unveiled its “Hyundai Way” long-term strategy to become a leading provider of sustainable mobility on the global stage. Through the new plan, the brand says it will strive to improve its products and services even further with the help of technological advances. 

“Hyundai Motor will strengthen its position as a game changer by expanding beyond vehicle manufacturing to AAM (advanced air mobility) and other forms of future mobility. Our technological advances will bring a richer and more sustainable future for humanity,” President and CEO of Hyundai Motor Company Jaehoon Chang said. 

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