‘Hyundai witnesses significant brand growth’

GKNN
Srinagar, Publish Date: Apr 20 2018 1:51AM | Updated Date: Apr 20 2018 1:51AM

Hyundai Motors, the country’s second largest manufacturer of passenger cars and the largest exporter, has attained a significant growth in enriching its Brand Power under Modern Premium Brand direction. 

According to a company spokesperson, Hyundai has steadily climbed up the ranks demonstrating a steady increase in awareness and preference for its premium offerings among the customers.

Commenting on this trend,  YK Koo, MD & CEO, HMIL said, “As a Most loved and trusted brand we have attained a remarkable growth in Brand Power. The enhanced Brand Power Index increased our awareness from 77% in 2016 to 80% in 2017 in India. Hyundai’s brand preference went up from 69.7% to 70.7% and repurchase intention grew by 3.2% to 76.2% in the same period. We further strengthened our commitment by creating high quality cars along-with world class after sales services for the customers, resulting in Number 1 rank in JD Power 2017 India Customer Service Index (Mass Market) study 2017. This is a true reflection of Hyundai Brand Trust within our customers in the Indian market.”

 Hyundai has witnessed a considerable increase in sales contribution from its premium segment cars. The sales contribution of the premium aspirational brands (XCENT, ELITE i20, i20 ACTIVE, VERNA, CRETA, ELANTRA and TUCSON) has gone up from 54.19% in FY2015-16 to 60.54% in FY2017-18, this shift is a testimony of rising customer aspirations and preference towards Hyundai products. The most prestigious award winning brands like ELITE i20, the Next Gen VERNA, CRETA, ELANTRA and TUCSON have become segment icons and set new benchmark in premium products category.