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Hyundai Motor's brand value ranks 5th worldwide

Hyundai Motor Co. said Tuesday its brand value was ranked fifth among global automakers on its efforts to evolve into a future mobility solutions provider.

Hyundai Motor's brand value rose 1 percent to $14.3 billion in 2020 from $14.1 billion a year earlier, the company said, citing global brand consulting firm Interbrand's top 100 brand rankings for this year.

Hyundai Motor's brand value ranking was up one notch from the prior year, and it marks the first time for South Korea's leading automaker to make the global top five list.

In addition, Hyundai Motor is the sole automaker in the world to register an on-year rise in brand value.

"Despite the coronavirus pandemic, Hyundai's brand value advanced thanks to its aggressive investment in hydrogen fuel-cell electric and other next-generation vehicles and future mobility technologies," an Interbrand official was quoted as saying.

Toyota Motor Corp. was the No. 1 global auto brand with $51.6 billion, trailed by Mercedes-Benz with $49.3 billion, BMW with $39.8 billion and Honda Motor Co. with $21.7 billion. Tesla placed sixth with $12.8 billion, followed by Ford Motor Co. with $12.6 billion.

Interbrand annually announces the world's 100 most valuable brands based on a comprehensive analysis of multiple factors, such as financial soundness, brand competitiveness and marketing.

Meanwhile, Hyundai Motor said it ranked 36th in this year's overall global brand rankings. The South Korean carmaker first made the Interbrand top 100 rankings in 2005, when it earned the 84th spot with a brand value of $3.5 billion. (Yonhap)