The Rs 110 crore account was with Mumbai based Madison communication till June, 2005. Then the account was won by Cheil communications, Samsungs in-house agency, only to shift hands again.
The shift is crucial because among auto majors, Hyundai is the second largest spender after Maruti Udyog in advertising and media, with a 55:45 split between television and print media. General Motors was the other big auto client to have changed its media agency in 2005.
As reported in FE earlier, the hunt for a new media agency was neccesitated by Hyundais decision to launch its own creative agency Innocean in India. As a direct fallout, the company invited leading media agencies for presentations and Zenith Optimedia was awarded the account. Innocean will take shape within next two months and will initially hire 30-40 resources to work on the creative acconts of Santro, Accent, Getz, Sonata, and Terracan.
The agency shift also comes in the back drop of two important announcements made by the company.
...aims for $99 bn sales
Hyundai Motor Co, South Koreas largest automaker, targeted an 18% increase in group sales to 100 trillion won ($99 billion) this year, as it invests in new factories in the US and China.
Mr Lheem is the fourth new managing director for Hyundai in India in just over two years. Secondly, Hyundai Motor Co in South Korea on Monday announced its intention to sell 2.69 million vehicles in 2006, a 15% increase from the its target of 2.33 million units sold in 2005.