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2015 Hyundai Sonata found uncovered in Korea

Hyundai is locked and loaded to debut its redesigned, 2015 Sonata at the New York Auto Show next month. For one enterprising Korean photographer, however, the reveal just couldn't come soon enough.
A South Korean website called Bobaedream.co.kr unceremoniously published some images of what would appear to be a completely undisguised example of the new Sonata. Korean Car Blog quickly followed up on the leak, claiming that the car in question was fitted with Hyundai's 2.0-liter turbocharged GDI engine, making 274 horsepower, and connected to an all-new, seven-speed dual-clutch transmission.
Whether that information came from a reliable insider source (as the photos would suggest) or was just a best guess, we can't say. But we can see what direction Hyundai is headed in with the Sonata. The front end seen in the spy shots is more or less what we'd already seen in the last teaser picture, with a new headlamp design helping to set off a prominent grille. The grille does seem to have some element of the strong, graphical surround from the teaser, too, though it's not as defined in these low-resolution pictures. Sheetmetal on the hood and bodysides seems cleaner, straighter and less fussy than in the current car, too. As for whether or not this is the Korean-spec car or the one destined for the US market, that's unclear, though we have been told that the two cars do look very similar.

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 spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.