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Hyundai Motor's two R&D vice chairmen reportedly resigning

SEOUL — Hyundai Motor Group's two vice chairmen in charge of research and development have offered to resign, three people familiar with the matter told Reuters on Tuesday. R&D president Albert Biermann is likely to be named the new head of the division, two of the sources added, declining to be named as they are not authorized to speak to media. Hyundai is battling a plunge in sales, profits and its share price, and the reshuffle would be the latest since Hyundai promoted Euisun Chung in September to executive vice chairman, moving him closer to succeeding his octogenarian father as head of South Korea's second-largest group. The group has appointed new product strategy, design chiefs and replaced senior executives at its overseas operations, including China and the United States. The latest shake-up at the group, which includes Hyundai Motor and its affiliate Kia Motors, could be announced on Wednesday, one of the sources said. It is "part of a generational change Chung is pushing for," another person said. A Hyundai Motor spokesman declined to comment. The group's vice chairmen, Yang Woong-chul and Kwon Moon-sik, both aged 64, told senior officials on Tuesday that they would leave the company, the sources said, declining to say why they had offered to resign. Biermann, a former BMW performance vehicle development official, adds to a flurry of foreign executives that Chung, 48, has brought in to the company typically dominated by Koreans. In October, Thomas Schemera, also a former BMW executive, was appointed to lead product planning for autonomous cars, connected and electrified vehicles, while Luc Donckerwolke, a former Bentley design chief, was appointed to oversee design at Hyundai and Kia. Hyundai Motor's third-quarter net profit plunged by two-thirds, hit by U.S. recall costs that added to its problems. The automaker was already suffering with weak sales in its key U.S. and Chinese markets. Hyundai's share price is down more than 10 percent this quarter, despite a recent rebound driven by a share buyback plan announced on Nov. 30. Reporting by Hyunjoo JinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Hyundai's Super Bowl ads score on Ad Meter

Pepsi and Anheuser-Busch have often dominated USA Today's influential Super Bowl Ad Meter, but this year Hyundai broke through as the first car company to capture the top spot. Hyundai's First Date spot shown during the first quarter earned a 6.90 rating to edge out Heinz's Weiner Stampede (6.63) and two Doritos' commercials, Utrasound (6.60) and Doritos Dogs (6.48). Two more Hyundai spots, Ryanville (6.27) and The Chase (6.19) gave the automaker three of the top six commercials during the Super Bowl. USA Today's Ad Meter has been a barometer that measures the success of ads during the Big Game since 1989. More than 19,000 panelists participated this year. They ranked each ad on a scale from zero to 10. Anheuser-Busch ads won the last three years. First Date stars comedian Kevin Hart as an overprotective dad in who uses Hyundai's Blue Link car finder feature in the Genesis to spy on his daughter during a first date. Ryanville showcases Ryan Reynolds to illustrate how the Elantra can help with the perils of distracted driving. The Chase also stars the Elantra and its Blue Link voice-activated auto start system, which are successfully used to evade bears. Related Video: Hyundai Dominates with Three of the Top Six Ads First Automaker to Take the USA TODAY Ad Meter Crown FOUNTAIN VALLEY, Calif., Feb. 8, 2016 – Hyundai became the first automotive company to win USA TODAY's coveted Ad Meter when its spot "First Date" beat out 63 other Super Bowl 50 commercials. Hyundai's impressive performance also included a fifth and sixth place finish for "Ryanville" and "The Chase" respectively, meaning Hyundai finished with three of the top six highest rated ads. Creative was developed by Hyundai's agency of record, INNOCEAN Worldwide. "On the biggest advertising day of the year, we wanted to entertain Super Bowl fans with creative storytelling and relevant, popular celebrities, while showcasing the innovative technology features of our vehicles. Our formula clearly resonated with the thousands of Ad Meter voters," said Dean Evans, chief marketing officer, Hyundai Motor America. "Kevin Hart's comedic chops coupled with a human truth people could connect with was a standout combination that put us over the top. It's an incredible conclusion to our first year as an official NFL sponsor that we won the Ad Meter for Super Bowl 50." "First Date," a 60-second spot featuring Kevin Hart, highlights one of the incredible technology features of Hyundai's premium Genesis sedan.

Honda, Hyundai top car residual value / depreciation awards list

J.D. Power announced its 2022 U.S. ALG Residual Value awards Thursday, with Honda and Hyundai topping the charts at three models apiece in the industry-standard study. The term "residual" is an industry projection of how well a car will hold its resale value three years from the original purchase date – a key metric in calculating lease costs and projecting new-car depreciation.  Award winners included several enthusiast-friendly options, including the BMW 2 Series, Dodge Charger, Subaru WRX, Mercedes-AMG GT and Toyota Tacoma. Even the Ford Bronco was recognized, beating out the Jeep Wrangler in the Off-Road Utility segment. That may seem odd given the car's issue-plagued launch, but scarcity apparently trumps quality control issues over the longer term. Here's a scrolling complete list of winners broken down by segment: “Accurately forecasting residual values in the auto industry is a key factor in assessing an estimated $225 billion lease portfolio of vehicles in the United States,” said ALG VP Eric Lyman in the company's announcement. "The brands and vehicle models that rise to the top demonstrate that they score well across the award programÂ’s criteria, including manufacturersÂ’ superior design and quality." ALG looks at several factors to determine future value, which is especially tricky with new models. For 2022, 16 different brands were recognized across 29 segments. Behind Honda and Hyundai, Audi, Kia, Mercedes-Benz, Land Rover and Subaru all managed to chart with two different models. Here's the rundown of those who won in more than one category: Honda Civic Honda Passport Honda Odyssey Hyundai Accent Hyundai Kona Hyundai Kona EV Audi A6 Allroad Audi Q3 Kia K5 Kia Telluride Land Rover Range Rover Velar Land Rover Discovery Mercedes-AMG GT 4-Door Mercedes-Benz Metris:  Subaru  WRX and  Subaru Forester Toyota Tacoma  Toyota Tundra "The award process consists of evaluating 284 models through analysis of used-vehicle performance, brand outlook and product competitiveness," the announcement said. "Eligibility for a brand award requires a manufacturer to have model entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line."   Audi Honda Hyundai Kia Land Rover Mercedes-Benz Subaru Toyota