Hyundai has made huge strides in recent years in the quality, technology, and design of the vehicles they offer and as such, the company is working diligently to shed its ‘economy’ class image. The company is introducing a concept called ‘modern premium’ which has already been introduced internally. The current ‘Drive Your Way’ slogan will also be replaced, with a campaign more focused on improved customer service, more innovative marketing, and a better look and feel to the vehicles.
“In the past 10 years, we have been very successful in building an image for quality,” Executive Vice President Cho Won Hong, Hyundai’s new global marketing chief, said in an interview last month.. “From now on, our direction will be defined as new premium or modern premium.”
Hyundai has seen US sales surge 23% through November, in a market only up 11%. The company will ride this waive hard through a campaign that includes a heavy increase in marketing investments, a new dealer education program, and improved showroom identity.
“Obviously, there will be some price increases,” Cho said. “If we deliver premium value to the customers and they recognize the value, then that’s the time we can increase our prices.”
The new strategy will be revealed at the 2010 Detroit Auto Show.
– By: Stephen Calogera
Source: Automotive News (Subscription Required)