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Hyundai Initiates Hispanic Agency Review, Dieste Will Not Defend
October 07, 2005
By Mariana Lemann
Hyundai Motor America has placed its Hispanic advertising account into review, and Dallas-based Dieste Harmel & Partners -- which has served as the car maker's agency of record since 1999 -- has said it will not participate.
Dieste was invited to contend the account, but the agency declined. "We've worked with Hyundai since 1999, after participating in a major review and getting the business," says Dieste President Warren Harmel. "A couple of months ago, Hyundai appointed a new chief marketing officer [Michelle Cervantes, formerly with Mercedes Benz] and as often happens she felt that it was time put the account in review. We were advised about it and we preferred not to participate." Dieste’s contract with Hyundai expires at the end of the 2005.
CEO Tony Dieste issued a statement adding: "We are proud of the role we have played in helping Hyundai become a major player in the USA, with an incredible sales growth from some 90,000 vehicles to almost 400,000. By working with Hyundai during this historic time, we have gained extraordinary knowledge of the Hispanic automobile market."
Paul Koh, Hyundai executive director, ethnic marketing, in a statement, said, "Dieste has been a tremendous part of Hyundai's growth and sales success since the inception of our relationship." The company has retained SelectResources International to assist with the search and expects to select a new agency before the beginning of 2006 and will immediately begin the process of identifying qualified agency contenders, according to the statement.
Hyundai Motor America spent $15 million on Hispanic advertising in 2003 and $20 million in 2004, per TNS Media Intelligence. Through August of 2005, the company has spent $20 million.
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