SEOUL, Feb. 17 (Korea Bizwire) – Genesis’ brand value has improved significantly since Hyundai Motor Co., South Korea’s No. 1 carmaker, launched it anew as a separate premium vehicle brand late last year, a report showed Wednesday.
Brandstock, a South Korean market research firm that determines the rankings of local brands, said in its latest survey that the Genesis got 843.5 points on a scale of 1,000 in terms of its Brand Stock Top Index (BSTI) in January.
This marked the third-highest among vehicles surveyed by the firm and a marked jump from last year, when it ranked eighth by getting 788 points.
The Genesis used to be the name of a premium vehicle model for Hyundai Motor, but it was turned into a separate luxury brand in November as the automaker aimed to better compete with high-end overseas rivals.’
Along with the Genesis, other Hyundai Motor vehicles dominated the chart, with the Grandeur and the Sonata coming in first and second with BSTIs of 876.7 and 861.2, respectively.
Ssangyong Motor Co.’s Korando C SUV retained its fourth-place standing, but GM Korea Co.’s Spark city car slid from third to fifth, the report showed.