HAVAL named the world’s most powerful SUV brand
HAVAL’s record-breaking sales success has been rewarded by being named the world’s most powerful SUV brand and China’s most powerful auto brand by leading business valuation firm Brand Finance.
Brand Finance CEO David Haigh presented the award to HAVAL Chairman Wei Jianjun at the Great Wall Million Sales Celebration event in Baoding last month.
“Over the past 25 years China has become the ‘workshop of the world’. Over the next 25 years China is set to lead the world on innovation and reputation and truly become the envy of the world.
“HAVAL named the world’s most powerful SUV brand”
“HAVAL has been at the forefront of this process. From genuine innovation, to production excellence, from distribution efficiency to a reputation for quality, HAVAL has made an impressive entry into the world automobile stage.”
Haigh explained Brand Finance calculated the values of the brands in its league tables using the ‘Royalty Relief approach’.
This approach involves estimating the likely future sales that are attributable to a brand and calculating a royalty rate that would be charged for the use of the brand, i.e. what the owner would have to pay for the use of the brand assuming it were not already owned.
“During our annual report on the world’s most valuable automobile brands study, Auto 100 2017, we found that the SUV segment is the fastest growing segment in the industry. For 2016, SUV sales volumes grew 33 % compared to a mere 2.5% for cars.
“HAVAL, valued at US$3 billion, recorded an impressive increase of 40 percent in brand value, making it the pride of China. I look forward to more exciting news from HAVAL next year,” he said.
Based in London, Brand Finance – the world’s leading independent branded business valuation and strategy firm – helped craft ISO 10668, the internationally recognised standard on Brand Valuation.