Hyundai brand equity gained more than four points in the 2010 Harris Poll EquiTrend survey, its annual brand equity study that measures over 1,000 brands across 42 categories, including consumers opinions of 35 automotive brands. Hyundais improvement topped all but one other manufacturer, and mirrored its 2009 sales success, which grew eight percent over 2008, increasing market share to 4.2 percent in the United States.
Our EquiTrend data suggests that in a severe downturn such as one experienced in the auto industry, brands with solid equity growth are resilient and can indeed succeed, said Carol Gstalder, senior vice president, Business and Industrial at Harris Interactive.
The report said Hyundai and Subaru, the two brands scoring the most significant improvement, stand out as leaders in consistently building consumer brand equity over the past several years. Both brands have posted year-over-year sales increases while the industry has suffered double digit sales declines.
The EquiTrend study evaluates measures including: Equity, Consumer Connection, Commitment, Energy, Brand Behavior, Brand Advocacy, and Trust. The keystone to the program is Equity, which provides an understanding of a brand’s overall strength and is determined by a calculation of Familiarity, Quality, and Purchase Consideration.