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Hyundai Motor Company on Wednesday announced that its global brand value has risen 1% year-on-year to $14.3 billion, ranking fifth among global automotive brands and 36th overall despite unsuitable market conditions caused by the coronavirus pandemic.

The company has been listed in Interbrand’s top 40 global companies for six consecutive years. Also, it has managed to remain in the top 100 for 15 consecutive years since entering the list of the top 100 firms in terms of brand value in 2005. “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.

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The company has recently launched its dedicated EV brand 'IONIQ' which demonstrates its commitment to mobility electrification. As per Hyundai, its investment in the hydrogen fuel-cell technology has also 'bolstered its position in the rapidly changing transportation sector'. Recently, the Korean automaker delivered the first seven units of the first mass-produced fuel-cell electric heavy-duty truck to customers in Switzerland. It also mentioned that a total of 50 more will be hitting the roads there by the end of 2020.

Moreover, the company has also adapted to the pandemic by strengthening its online sales channels worldwide and introducing the ‘Click to Buy’ digital option in the US and India. Thanks to the new platform, the firm has welcomed 1.5 million cumulative visitors digitally. At the same time, it has received over 20,000 sales inquiries and garnered 2,000 plus sales through its 'Click to Buy' platform in India.

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"These activities helped Hyundai Motor become the only automotive company on the list to see its brand value rise this year. As a result, the company’s ranking on the list rose by one spot from last year to fifth among global automotive companies," Hyundai mentioned in a press statement sent on Wednesday.