Kenny
11-12-2003, 10:11 AM
http://www.thecarconnection.com/index.asp?article=6600
Hyundai Motor America said the name of its new SUV will be the Tucson, and that it will double its national advertising spending next year to launch the car in August, as well as pump up sales of the XG350 and Sonata. HMA CEO Robert Cosmai, who took over in September after the departure of CEO Finbarr O'Neill who went to Mitsubishi, said the extra spending is meant to bolster Hyundai's brand in advance of opening its first U.S. plant in 2005. Hyundai plans to build the Santa Fe and Sonata at its Alabama plant when it opens. "2005 is going to be huge for us," said Cosmai. Competition is growing for Hyundai. Chevy introduces the $10,000-to-$15,000 Aveo next year, and Suzuki adds two new models. "We're going to feel that," said Cosmai. Hyundai is on track to top 400,000 in sales this year, and Cosmai says he sees no reason why the company can't reach 500,000 by the end of 2006. Besides the Tucson SUV, to be priced below the very successful Santa Fe SUV, Hyundai plans to launch a minivan in 2006. The company is also planning on a large mid-size SUV and reportedly a light-duty pickup. Hyundai will spend around $225 million this year on national ads. That goes up to nearly $450 million next year, said the new CEO. The Tucson will be offered in both front-wheel-drive or all-wheel-drive configurations and will come with a standard four-cylinder or optional V-6 engine. The uplevel Tucson and the entry-level Santa Fe will share a 3.5-liter V-6. -Jim Burt
Hyundai Motor America said the name of its new SUV will be the Tucson, and that it will double its national advertising spending next year to launch the car in August, as well as pump up sales of the XG350 and Sonata. HMA CEO Robert Cosmai, who took over in September after the departure of CEO Finbarr O'Neill who went to Mitsubishi, said the extra spending is meant to bolster Hyundai's brand in advance of opening its first U.S. plant in 2005. Hyundai plans to build the Santa Fe and Sonata at its Alabama plant when it opens. "2005 is going to be huge for us," said Cosmai. Competition is growing for Hyundai. Chevy introduces the $10,000-to-$15,000 Aveo next year, and Suzuki adds two new models. "We're going to feel that," said Cosmai. Hyundai is on track to top 400,000 in sales this year, and Cosmai says he sees no reason why the company can't reach 500,000 by the end of 2006. Besides the Tucson SUV, to be priced below the very successful Santa Fe SUV, Hyundai plans to launch a minivan in 2006. The company is also planning on a large mid-size SUV and reportedly a light-duty pickup. Hyundai will spend around $225 million this year on national ads. That goes up to nearly $450 million next year, said the new CEO. The Tucson will be offered in both front-wheel-drive or all-wheel-drive configurations and will come with a standard four-cylinder or optional V-6 engine. The uplevel Tucson and the entry-level Santa Fe will share a 3.5-liter V-6. -Jim Burt