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Hyundai taps Lamborghini exec to lead Genesis brand

If Hyundai is serious about going after the big boys with the launch of its new Genesis brand, it's going to need the right people with experience in the luxury marketplace to pull it off. Fortunately it appears to have found just the man for the job. His name is Manfred Fitzgerald, and he'll be running the Korean automaker's new luxury brand starting next month. Fitzgerald was formerly director of brand and design at Lamborghini, where he worked for 12 years before leaving to start his own consultancy. As the latest Senior Vice President at Hyundai, he'll be tasked with leading the "brand strategy, marketing, and other business operations" for the Genesis brand. That means working closely with Luc Donckerwolke, who – having penned for a number of Volkswagen divisions including Lamborghini as well – recently left his post as head of design at Bentley to run Hyundai's new Prestige Design Division (which will handle the styling for all future Genesis vehicles). Donckerwolke works under Peter Schreyer, who – as chief design officer at Hyundai and one of three presidents of Kia – is the highest-ranked foreigner at the company. Schreyer is also a former VW Group man, having designed the original Audi TT and the Volkswagen New Beetle before leaving for South Korea. One year ago, Hyundai similarly tapped Albert Biermann – formerly head engineer at BMW M GmbH – to run its new performance division. Hyundai Motor Announces Manfred Fitzgerald to lead the Genesis Brand - Manfred Fitzgerald takes role of leading the Genesis brand - Genesis brand targets the global luxury car market by appointing a prominent figure that transformed Lamborghini into a luxury car brand December 28, 2015 – Hyundai Motor announced Manfred Fitzgerald, former Director of Brand and Design at Lamborghini, to lead the Genesis brand from January, 2016. Based in Hyundai Motor Headquarters Seoul, Mr. Fitzgerald will be in charge of establishing and executing strategies for the Genesis brand as the Senior Vice President. For the brand to set a strong foothold in the global luxury car market, he will take a core role in brand strategy, marketing and other business operations within the Genesis brand. During his twelve year career at Lamborghini, Mr. Fitzgerald played a pivotal role in transforming Lamborghini from a prototype car company to a luxury car brand and increased its sales ten folds as the Director of Brand and Design. Mr.

Best and worst car brands of 2022 according to Consumer Reports

It's that time again, Consumer Reports this morning lifting the curtain on its 2022 Annual Car Brand rankings and its 10 Top Picks in the car, crossover, and truck category. Drumroll, please: This year, Subaru climbs two spots to claim the winner's circle, having come third the last two years. Last year, Mazda climbed three spots from 2020 to take the crown. This year, Mazda slipped to second, BMW taking the last spot on the podium, also a one-spot drop from 2021. Six automakers in the top 10 hailed from Japan, which is one more than last year, and five luxury makers occupied the top 10, which is two more than last year. And South Korean representation didn't crack the top this year, after Hyundai managed tenth last year. The seven makes after BMW are: Honda, Lexus, Audi, Porsche, Mini, Toyota, and Infiniti.  The magazine and testing concern says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CR’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." The domestics also took steps back among the 32 OEMs ranked on the 2022 card. Chrysler and Buick were the domestic carmakers who made last year's top 10 in eighth and ninth, respectively. This year, Buick dropped to eleventh, Chrysler to thirteenth. Dodge went from fourteenth to sixteenth. CR continues to ding Tesla's yoke steerer, the not-exactly-natural handhold responsible for the electric carmaker going from sixteenth last year to twenty-third this year.

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.