Hyundai Motor Company is thrilled to announce that its brand valuation has soared to $23 billion, securing the 30th position in Interbrand’s Best Global Brands rankings for 2024. This achievement reflects a remarkable 63% increase in brand value over the past five years, marking the brand’s ascent in rankings for the second consecutive year. Over this period, Hyundai moved up six spots, from 36th to 30th, and celebrated its 14th consecutive year of increasing brand valuation.
Several key factors have fueled Hyundai Motor’s growth in brand value. Central to this success are various global initiatives that embody the company’s vision of “Progress for Humanity.” A notable highlight includes the IONIQ 5 N, which won the World Performance Car award at the 2024 World Car Awards and received high praise in the J.D. Power U.S. APEAL Study, reinforcing Hyundai’s standing as a leading global automaker.
Hyundai has also enhanced its global brand influence through strategic initiatives. The completion of the Hyundai Motor Group Innovation Center Singapore (HMGICS) is a testament to the company’s commitment to securing a significant global presence in future mobility. Plans for additional facilities, such as the Hyundai Motor Group Metaplant America (HMGMA), a new electric vehicle (EV) plant in Ulsan, and a complete knockdown (CKD) factory in Saudi Arabia, are further steps in this direction.
Customer engagement has been bolstered through innovative initiatives, including sports sponsorships in archery and FIFA, the sponsorship of the Whitney Museum of Art, and the premiere of Hyundai’s first short film, “Night Fishing.” Additionally, the company opened its first restaurant, “Na Oh,” in Singapore, in collaboration with a Michelin-starred chef, earning accolades at the 2024 Red Dot Award: Brand & Communications Design.
Looking to the future, Hyundai Motor has unveiled its mid- to long-term strategy, “Hyundai Way,” aimed at achieving market leadership. The company is committed to continuous innovation that focuses on mobility and energy, while remaining adaptable to market dynamics. By enhancing its products and services through software and AI, Hyundai is positioned to lead the transformation of the mobility ecosystem and solidify its status as a mobility game changer.
“Hyundai Motor will reinforce its position as a game changer by expanding beyond vehicle manufacturing into Advanced Air Mobility (AAM) and other forms of future mobility,” stated Jaehoon Chang, President and CEO of Hyundai Motor Company. “Our technological advancements will pave the way for a richer and more sustainable future for humanity.”
Interbrand, a global brand consulting firm, conducts annual evaluations of major multinational companies. The rankings consider three factors: financial performance analysis, the brand’s role, and its competitive strength. Hyundai Motor’s rise in this esteemed list is a testament to the company’s consistent growth and robust performance.
Hyundai Motor’s two-rank increase in this year’s Best Global Brands list underscores the company’s accomplishments across both business and branding domains,” noted Jihun Moon, CEO of Interbrand Seoul. “New global sales records, combined with ongoing efforts to strengthen the IONIQ and N series, propel Hyundai Motors toward fostering genuine brand loyalty.
