2011 Hyundai Genesis Loaded With Navigation, Radar Cruise..37k Miles on 2040-cars

Auto blog

Hyundai appoints William Lee as global head of Genesis

SEOUL — Hyundai on Tuesday named its former North American chief, William Lee, to oversee its premium Genesis brand following the departure of Manfred Fitzgerald to pursue new opportunities. Lee faces the challenge of rejuvenating Genesis sales in the U.S. market and making headway in Europe and China, both tough markets to crack for luxury car sales. "The company expects Mr. Lee, in his new capacity, to lead the brand's further global expansion by leveraging his overseas business operations expertise," Hyundai said in a statement. "North America is an imperative market for the Genesis brand," it added. The news follows the appointment this month of Mark Del Rosso, a former president of Audi America, to oversee Genesis operations in North America. Genesis U.S. sales halved to 10,312 last year, although sales have picked up this year. The United States is the biggest overseas market for Genesis, which generated 72% of its sales in South Korea last year. Before his stint at Hyundai Motor North America, Lee oversaw Hyundai's Brazil operations and the U.S. unit of advertising arm Innocean Worldwide. Hyundai said in a recent earnings conference call that it has set up Genesis sales operations for China and Europe. Hyundai Motor Group's heir apparent Euisun Chung introduced the Genesis brand in November 2015, bringing in Fitzgerald, a former Lamborghini executive, a few months later to help the automaker shed its value for money image. Hirings/Firings/Layoffs Genesis Hyundai Luxury

Hyundai, Kia want to improve fuel economy by 25 percent

Hyundai and sister company Kia are giving themselves a little bit of time to make up a lot of ground in the fight for better fuel economy. We wonder if a recent multi-million fine might have something to do with this public target. The connected South Korean companies are vowing to increase their fleetwide fuel economy by 25 percent by 2020, Reuters reports. This will be done by further advancing their powertrains, looking at other ways to reduce weight, upgrading diesel engines and improving transmissions. That will all take money, but Kia and Hyundai will have $300 million less to invest thanks to a recent fine of more than $300 million from the US Environmental Protection Agency (EPA), the Department of Justice and the California Air Resources Board (CARB) for incorrect fuel economy numbers on around 1.2 million vehicles from the 2011-2013 model years. The civil penalties – $100 million of the total – are the largest in EPA history. In late 2012, Hyundai and Kia admitted to overstating the fuel economy of a number of models and said they'd change the official MPG figures and compensate owners. Hyundai spokesman Chris Hosford confirmed to AutoblogGreen that the company set the dramatic fuel-economy improvement targets. In the US, where Hyundai and Kia are operated as separate entities, Hyundai "remains committed to meeting the CAFE (Corporate Average Fuel Economy) requirements that have been set out by the US government," Hosford said The EPA recently released a report on fuel-economy and put Hyundai fourth in overall fleetwide fuel economy in the US among vehicle makers for the 2014 model year. The top three were Mazda, Honda and Subaru.

Hyundai Motor Group promotes heir apparent

SEOUL — Hyundai Motor Group promoted heir apparent Euisun Chung on Friday to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea's second largest group. Chung, 47, who will assist his father and group chairman Mong-Koo Chung, was appointed as executive vice chairman to respond to "deteriorating global trade issues and changes in competitive dynamics in major markets," Hyundai Motor Group said in a statement. Chaebols like Hyundai and Samsung Group, which have grown into global firms from the rubble of the 1950-1953 Korean War, are undergoing a transfer of power to third- or fourth-generation leaders. "In his new capacity, Executive Vice Chairman Euisun Chung will oversee the entire Group's operations, aiding and reporting to Chairman Mong-Koo Chung," the statement said. The appointment also comes as Hyundai battles tumbling profits, mounting pressure from activist shareholders to improve its governance, and amid South Korea's trade tensions with the United States that threaten to disrupt its production plans. "This is a good sign," Park Yoo-kyung, a director at Dutch pension fund APG Asset Management, said of the appointment. "This will enhance transparency about who is controlling the group and who is making key strategic decisions," she said. Generational shift The junior Chung, currently vice chairman of the group's crown jewel, Hyundai Motor Co, has stepped up in recent years, attending motor shows and government meetings with business leaders on behalf of his 80-year-old father who has made few public appearances. Shares in Hyundai Motor ended up 0.8 percent on Friday, and affiliate Kia Motors fell 0.3 percent in a wider market that rose 1.4 percent. Chairman Chung, the all-powerful boss, has presided over Hyundai for about two decades, transforming the company into the world's fifth-biggest car maker along with Kia Motors. Hyundai is now struggling to reverse slowing sales in China and the United States, where the company has suffered due to its delayed response to booming demand for SUVs. The appointment is part of an effort to "improve future competitiveness and secure future growth engines" at a time when the auto industry is undergoing major changes, the group said. The junior Chung has led the group's efforts to develop future vehicles such as autonomous and connected cars, as well as Hyundai's fledging premium brand Genesis.