Hyundai's brand value reaches $20.4-B

MANILA: The brand value of Hyundai Motor Company in Interbrand's “Best Global Brands 2023” has reached $20.4 billion, representing the third highest year-over-year valuation increase out of 100 brands.

Hyundai's rank also jumped from 35th to 32nd, marking its first increase in rank since 2016.

Since Hyundai Motor Group Executive Chair Euisun Chung began to lead the company, the brand value rose by $6 million in just three years. Chung has played a vital role in driving the company towards being a “smart mobility solutions provider.” This transition is reinforced by the company's progressive approach to innovation and technology.

“As the automotive industry undergoes a transformation, Hyundai Motor is exploring future mobility solutions to respond to fast-changing consumer needs. We are committed to a better future for all of humanity,” Hyundai Motor Company Senior Vice President and Global Chief Marketing Officer Sungwon Jee said.

Interbrand commended Hyundai's accelerated efforts towards electrified mobility, its leadership in future mobility technology, and its “Progress for Humanity” initiatives.

“Hyundai Motor Company is making big strides in forwarding its vision of ‘Progress for Humanity’ through the Ioniq brand. 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,” an Interbrand representative stated.

The brand's commitment to developing state-of-the-art electric vehicles is showcased in the Ioniq 5 and Ioniq 6, the back-to-back winners of the World Car of the Year award in 2022 and 2023.

Following this success, Hyundai is also set to launch a large flagship electric sport utility vehicle in 2024. The company is also looking into the development of hydrogen high-performance cars based on the N Vision 74.

Hyundai is also committed to providing human-friendly robotic solutions, demonstrated through its partnerships with Robotics Lab and Boston Dynamics and its AI Institute in Massachusetts, USA.

The brand also continues to deliver strong sales performance in key markets across the world, specifically in North America, Europe, and India. Hyundai now ranks third in global car sales, achieving a 21.2-percent increase in annual revenue, a 47-percent surge in annual operating profit, and an over 40-percent rise in net profit.

Photos from Hyundai Motor Group

Also read:

Hyundai to open new EV plant

Hyundai to open premiere smart urban mobility hub in Singapore

'Hyundai Motor Way' charts path for accelerated transition to electrification