Hyundai has been named the fastest growing automotive brand for the second year running, by global brand consultancy firm Interbrand.

This year saw the company rise four places to number 61 in the top 100 annual ranking of the world’s 100 best global brands.

Interbrand calculates rankings based on company balance sheets, marketing activities and each brand’s potential profit. The organisation said Hyundai “displayed the most memorable performance continuing from the previous year, despite the growth slowdown of global brands”.

Hyundai’s brand value increased from US$3.5 billion in 2005 to US$6 billion in 2011.

“This award recognises the strong growth Hyundai continues to experience both at a local level in New Zealand and Internationally. It’s also an endorsement of Hyundai Motor Company’s new brand strategy launched in January 2011, and the fact that the company’s continued commitment to building ‘modern premium’ vehicles, is gaining traction,” says the Chief Operating Officer of Hyundai New Zealand, Tom Ruddenklau.

In New Zealand, sales of Hyundai vehicles are up 27 per cent compared to 2010, at a time when the overall New Zealand automotive industry grew by just 8.2 percent. In August, Hyundai New Zealand achieved the highest number of sales in its 29 year history, while internationally, Hyundai Motor Company was named the most improved car manufacturer of the last decade by UK based Auto Express.

Tom Ruddenklau says, it has been a great year for Hyundai New Zealand, and the brand’s popularity continues to go from strength to strength. “We are confident that momentum will continue to grow as we gear up for the launch of the i40 Wagon and Veloster models later this year, adding to our range of well designed, economic, 5 star ANCAP safety rated vehicles.”

Tom says the recently launched Elantra was named AutoPacific’s Ideal Compact Vehicle in September, while the i45 was named the 2011 International Car of the Year.