The COVID-19 pandemic over the past two years brought industries to a standstill in 2020 as lockdowns were initiated in many countries. Then, as things seemed to get better in 2021, a global shortage of microprocessors (as well as other parts) slowed production, especially of motor vehicles.
Nevertheless, in spite of having tough challenges to overcome and growing waiting lists of customers, the leading automotive brands still saw their brand values rise in 2021. In the Best Global Brands 2022 listing released by US brand consultancy Interbrand, the top 10 brand leaders in the auto sector remained largely unchanged, with increased values last year.
Despite very challenging market conditions, Hyundai Motor Company continues to grow its global brand value and, according to Interbrand’s Best Global Brands 2020 survey, the Korean carmaker’s brand value has reached US$14.3 billion. This places it fifth among global automotive brands and 36th overall. Hyundai Motor is, in fact, the only automotive company on the list to see its brand value rise this year.
6th year in Top 40
This is the sixth consecutive year that Hyundai Motor has been listed within Interbrand’s top 40 global companies. Since entering the ranks of the top 100 companies in terms of brand value in 2005, the carmaker has remained in the top 100 for 15 consecutive years.
“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.
“We have positively valued the company’s active and proactive approach to the market changes as a sustainable brand, encompassing its expansion of online sales channels, rapid response to social contribution activities and actual increase in sales of battery electric and fuel-cell electric vehicles,” he explained.
Electrification a key objective
Hyundai Motor’s commitment to mobility electrification was most recently demonstrated with the launch of its dedicated EV brand, IONIQ. Under IONIQ, the company will leverage its industry-leading manufacturing know-how in EVs to introduce three new dedicated models over the next 4 years. The creation of IONIQ line-up brand is in response to fast-growing market demand and accelerates Hyundai’s plan to lead the global EV market.
Hyundai Motor’s investment in hydrogen fuel cell technology has also bolstered its position in the rapidly changing transportation sector. The company recently delivered the first 7 units of the world’s first mass-produced fuel cell electric heavy-duty truck to customers in Switzerland, with a total of 50 hitting the roads there this year.
Hyundai Xcient – world’s first mass-produced fuel cell electric heavy-duty truck.
The company is striving to solve urban traffic challenges and highlighting an innovative new mobility paradigm via its urban air mobility business. To strengthen its competitiveness in robotics, autonomous driving technologies and other future mobility business areas, and to establish itself as a pioneer of future mobility industry, it is signing R&D collaboration schemes with diverse open innovation labs around the world.
“We’ve adapted to rapidly evolving market conditions to become a leader in future mobility and we’ve also been agile in responding to unexpected factors, such as those caused by the pandemic,” said Wonhong Cho, Global Chief Marketing Officer of Hyundai Motor Company.
Hyundai Motor has adapted to the COVID-19 pandemic by strengthening its online sales channels worldwide. In particular, in the USA and India, this approach is showing great sales results, and the company is developing a similar online sales platform for Europe.
Honda is said to be one of the most valuable brands in the world according to market research done by Interband in its latest ‘Best Global Brands’ study. The Japanese automaker was able to move up the ranking and is now considered the 20th most valuable brand globally.
Interbrand estimates Honda’s financial value to be at $22.696 billion. This includes its entire business divisions including the aviation sector, which is starting to witness a great deal of interest pertaining to its newly launched aircraft.
“The power of the Honda brand highlights our influential position in the market,” said Philip Ross, Senior Vice President of Honda Motor Europe. “There’s diverse range of new products, from the zero-emissions Clarity Fuel Cell to the award-winning Honda Civic Type R.”
“These vehicles showcase the significance of advanced technology to the Honda brand. The recently-announced ‘Electric Vision’ will fast-track a major brand advancement, bringing to market a host of new electrified vehicles from 2018,” he later added.
The recognition that the automaker received from Interbrand is a correlation with several landmark achievements for the company in 2016 as well as recent company announcements. Honda has revealed its business plans for the near future, which is considered a drastic shift from what we are used to expecting from the brand.
At the recent Frankfurt Motorshow, Honda revealed that electrified technology will be at the core of every new car model launched in Europe. The announcement was made by Honda Motor Company CEO, Takahiro Hachigo after the unveiling of the Urban EV Concept vehicle.
This proves that Honda is convinced that electric mobility is the future and are readying plans to offer more electrified vehicles to customers in the coming years. The Urban EV Concept will eventually pave the way for the launch of a new Honda electric car, which is slated for production in 2019.
At a global level, Honda plans on having electrified technology powering at least two thirds of its cars by 2030. Though these plans aren’t as drastic as those put forth by Volvo, but they too, spell the end of the automaker’s dependence on fossil fuel powered cars in the not so distant future.
Besides its automotive sector, the newly launched HondaJet light aircraft set a new Miami-Panama speed record that was recognized by the National Aeronautical Association. It also celebrated global deliveries that surpassed that of other jets in its class.
Honda’s expertise in robotics that include its spectacular creation, Asimo, the automaker has come up with an ingenious Miimo lawnmower. It is capable of recharging itself at an electric docking station when its running low on power and can intelligently follow the layout of any garden, quietly while cutting the grass.
All this combined, is the reason why Honda has been ranked this high on the list and should it may be able to move even closer to the top once it realizes the true potential of EV power.
