Interview: Hyundai Motor India Ltd. brand power is surging, says senior GM and group head Puneet Anand

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New Delhi | Published: May 7, 2018 2:27:59 AM

In 2011, at the Detroit Motor Show, Hyundai Motor Company revealed its new brand direction called Modern Premium.

Hyundai Motor India, Hyundai MotorPuneet Anand

In 2011, at the Detroit Motor Show, Hyundai Motor Company (HMC) revealed its new brand direction called Modern Premium, which, it noted, “aims to provide customers with emotional value and experiences beyond expectations through new thinking and new possibilities.” The result was HMC’s brand value rose from world’s 84th in 2005 to 35th most valuable in 2017 (by Interbrand, who put its global brand value at $13.2 billion).

The same has gotten reflected in India, too, where the company’s arm Hyundai Motor India Ltd (HMIL) has seen its premium products selling more than entry-level models. Puneet Anand, senior GM & group head, Marketing, HMIL, shares with FE’s Vikram Chaudhary how the Modern Premium philosophy has helped HMIL. Excerpts:

On rising sales of premium models…

The brand value of HMIL is one of the highest among carmakers, and this is reflected in the rising sales of our premium offerings. The sales contribution of our premium aspirational brands (Xcent, Elite i20, i20 Active, Verna, Creta, Elantra and Tucson) has gone up from 54.19% in FY16 to 60.54% in FY18, and this shift is a testimony of rising customer aspirations and preference towards our cars.

On winning accolades…

During the last three years, HMIL was ranked the top in JD Power quality study—the Initial Quality Study (IQS)—and last year HMIL won numerous awards in categories that measured quality.
On customer satisfaction…

Last year, Hyundai was ranked the highest in after-sales customer satisfaction by JD Power, with a score of 923, which is essentially based on customer feedback. Then, in the Vehicle Dependability Study (VDS), two of our cars were ranked the highest in their respective segments. These are a result of our Modern Premium brand direction.

On rising brand value…

The Brand Power Index—by the global market and opinion research specialist Ipsos—increased our awareness from 77% in 2016 to 80% in 2017 in India. Our brand preference went up from 69.7% to 70.7%, and repurchase intention grew 3.2% to 76.2% in the same period. Manufacturing high-quality cars and providing world-class after-sales services have helped Hyundai become one of the most loved and trusted brands in the country.

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