By Theodore Opara

Despite another challenging year for the automotive industry, Hyundai Motor’s global brand value increased  from 11.1% to reach$12.55bn, securing its place among the biggest  brands on the planet. The Korean company also moved up one place to 6th  in the global automotive industry to top 10 brands and is the 4th  most valuable high-volume automotive brand.

Hyundai Motor maintained global sales at five million units, helped by successful launches of its Creta, Sonata and Tucson models, while reinforcing its Modern Premium brand philosophy through increased differentiation between the Hyundai and Genesis brand identities.

The Hyundai Motor brand is set to achieve even greater heights with electrified IONIQ models, high-performance Hyundai cars and future-mobility focused Project IONIQ moving the brand into new automotive spaces.

Wonhong Cho, Executive Vice President of Hyundai Motor Company, said: “The car-ownership model may become obsolete within a matter of years, therefore we simply can’t limit our vision to eco-friendly vehicles.

To maintain our rate of growth as a global brand, we must rethink the traditional business model and not just see ourselves as a transportation company, but also a mobility service provider. With Project IONIQ we will address this new paradigm and further Hyundai Motor’s standing as one of the world’s most valuable brands.”

Acknowledging the achievement, Mike Rocha, Global Director of Brand Valuation at Interbrand, said: “Over the past year, Hyundai has once again redefined its limits by introducing IONIQ to gain leadership in future mobility, by spinning off the Genesis brand to enhance clarity for each brand’s identity and by providing innovative experiences such as Hyundai Motorstudio Digital.

We look forward to another year of growth for Hyundai as one of the forerunners of future mobility.”