Hyundai Motor Replaces Head Of Premium Genesis Brand
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Hyundai Motor 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.
Questions & Answers
Q.What is William Lee's primary challenge in his new role leading the Genesis brand?
What is William Lee's primary challenge in his new role leading the Genesis brand?
William Lee's main challenge is to revitalise Genesis sales in the U.S. Market, while also establishing the brand in the challenging luxury car markets of Europe and China.
Q.How did Genesis sales perform in its largest overseas market last year?
How did Genesis sales perform in its largest overseas market last year?
Genesis sales in the United States, its largest overseas market, were halved to 10,312 units last year, although the article notes that sales have improved this year.
Q.Which regions are Genesis aiming to expand into, according to recent company statements?
Which regions are Genesis aiming to expand into, according to recent company statements?
Hyundai has stated that it has established sales operations for the Genesis brand in both China and Europe, indicating these are key regions for expansion.
Q.What was the previous role of Mark Del Rosso, who was appointed to oversee Genesis North American operations?
What was the previous role of Mark Del Rosso, who was appointed to oversee Genesis North American operations?
Mark Del Rosso previously served as the president of Audi America before his appointment this month to lead Genesis operations in North America.
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