Despite earlier reports to the contrary incumbent Bates USA West, Irvine, California has made the list. Reports last month suggested that it would not make the grade.
The other agencies making the short list include FCB, Hill Holliday Connors Cosmopulos and Wieden & Kennedy. It is expected the list will be cut again before the pitch takes places in April.
Should Bates lose the account, it will be another blow for parent company Cordiant Communications. Last month its share price took a tumble when it was announced that the Korean car giant was moving its $300m media account from Bates to Carat, which is owned by the Aegis Group.
In recent interviews, Cordiant chairman Michael Bungey had described the Hyundai business as a cornerstone of the group. Bates has held the creative account in the US since 1986, the year Hyundai launched there.
The review does not affect Hyundai's European agencies, which include Leagas Delaney and Atlas Advertising for creative and PHD for media planning and buying.
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