According to Automotive News, Hyundai Motor America is planning to spend about half its estimated $500 million to $550 million budget for 2010 on two redesigned vehicles: the Sonata and Tucson. Both are slated to go on sale in the first quarter of 2010. While the overall marketing budget is the same as that in 2009, Hyundai Motor America will spend more to introduce the redesigned Sonata than it has on any vehicle launch in the brand's history.
According to Joel Ewanick, vice president of marketing at HMA, Hyundai will spend about twice what it did for the Genesis luxury sedan in the summer of 2008 with the all-new Sonata mid-size sedan. Reports say Hyundai spent $80 million on the rear-wheel drive sedan. Hyundai Motor America is well aware of the success that comes with heavy marketing, as it especially realized this with the highly successful Assurance Program that allows buyers who lose their jobs to return cars within a year of purchase. Hyundai sales were up 1 percent last month in an overall market down 27 percent. The brand's 4.4 percent market share is a significant leap from the 3.1 percent last year.
With the completely redesigned Sonata, Hyundai plans to make a serious run at the Honda Accord, Toyota Camry, Chevrolet Malibu and Ford Fusion. The majority of the money will be spent on network broadcast and network cable TV, with a hefty share towards major sporting events like the Super Bowl. Hyundai will also spend big on the upcoming FIFA World Cup to be broadcast on ESPN, as well as continuing sponsorship of the Academy Awards. For the all-new Tucson, Hyundai will spend about the same as it did with the Genesis.
"The Genesis brought new, incremental customers, but the volume with Sonata and Tucson could be significant," Ewanick said.
[Source:
Automotive News]
As Kia had officially unveiled the all-new K7 (Cadenza) sedan yesterday, the automaker has followed suit by uncloaking all test prototypes of the premium sedan and has set them loose in the streets of Seoul for public viewing. As a result, we have the first live shots of the K7, and these images give us a better look at the style and presence of the car. Continue to check by this post and TheCarBlogger for more shots as they come.
