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Hyundai Motors: Hyundai Motor Company, Korea Hyundai-Motor Automotive Group launches new global brand management strategy
(SEOUL) January 19, 2005 -- Hyundai-Motor Automotive Group today announced the launch of its new global brand management strategy, in which Hyundai and Kia will pursue differentiated brand images as a means of boosting the Group's overall market share and increasing the value of the two brands.
Hyundai-Motor Automotive Group Chairman, Mong-koo Chung, said, "These new brand identities have been established to ensure complete differentiation between Hyundai and Kia, as well as from our global competitors. We are confident that these new identities will result in significant synergies, thereby creating additional market share for each brand, since each company targets very different customers with different lifestyles." "Our new brand strategy is designed to ensure that we reach industry leading levels, not only in terms of size, but also in terms of customer perception and overall brand value, while laying a foundation for the Hyundai-Motor Automotive Group to become, ultimately, the manufacturer of the world's best quality cars," said Mr. Chung. Hyundai and Kia will integrate their respective brand strategies into all facets of their business including product development, design, marketing, sales, and after sales service. The brand strategies will be simultaneously implemented in strategic regions, such as the US, Europe and China, as the two companies seek to clearly differentiate their respective brands, while enhancing overall brand power. Each company will continuously expand its core target customer base by developing differentiated world-class quality products and service. The long term objectives of the Hyundai-Motor Automotive Group are to elevate its brand value to the level of the world's elite auto manufacturers, while joining the ranks of the world's top 30 global brands and the top five automotive brands in terms of brand value. The Group's global market share has steadily increased in recent years -- with market share in the US exceeding 4% last year -- as a result of rising sales for both the Kia and Hyundai automotive brands.
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