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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.

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.

Chrysler and Hyundai join Pepsi and Coke as top Super Bowl spenders [w/ video]

Super Bowl XLVIII is barely a week away, and some of the early ads are already leaking out. It's timely then that The Street has released rankings of the top five Super Bowl advertisers since 2009, showing Chrysler and Hyundai/Kia taking two of the spots with $131.7 million in cumulative spending.
Since 2010, the cost to air a 30-second Super Bowl ad has risen from $3 million in 2009 to about $4 million in 2014, and about a fifth of advertisers opt for a one-minute ad, which doubles costs. Last year, the ads brought in $292 million, and they have brought in roughly $2 billion since 2010.
Chrysler has spent $64.3 million since 2009 to make it the fourth highest spending company in the last five years. In that time, the company has rebranded itself as it emerged from bankruptcy with the Imported from Detroit ad campaign that premiered in 2011 and last year's God Made a Farmer Ram Trucks ad. Its 2012 Halftime in America sparked national debate about whether it was also a reference to the upcoming presidential election.