The largest South Korean automaker, Hyundai, also the fifth biggest in the world when considered with affiliate Kia Motors, is reportedly trying to ink a sponsorship deal with the National Football League.
If the reports are accurate, June could be a great month for the troubled carmaker, after also nailing the industry’s best overall score for JD Power’s “initial quality” influential annual report. And the maker needs every bit of positive information – as it has lost market share recently as supply issues, unfavorable currency-exchange rates and a mostly sedan-prone lineup lowered its appeal in front of Americans looking for SUVs, crossovers and pickup trucks. Hyundai is now rumored to take over from General Motors and its GMC brand to fulfill a sponsorship contract with the hottest entity in American sports and entertainment, according to Bloomberg. The news service pointed out that GM has earmarked that honor since 2001 at a cost of at least $35 million per year. And the move would be a genius stroke for the brand that, according to Autodata Corp. has lost market share from 4.4 percent last year to 4.3 percent through May this year.
Hyundai’s brethren Kia has already proved such partnerships are successful after landing a deal with the National Basketball Association. And Hyundai is no stranger to such associations – it has a sponsorship with the world soccer governing body FIFA for the World Cups, became the title automotive sponsor for the Oscars telecast and even landed as the automotive helper of human survivors in the hit AMC series, The Walking Dead.