ab-b Hyundai downscales vehicle buy-back promise
02-29-2012, 09:02 AM
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Vehicle: Hyundai
ab-b Hyundai downscales vehicle buy-back promise
Filed under: Car Buying, Hyundai, Earnings/Financials, Luxury
Back in April, Hyundai launched the Assurance Trade-in Value Guarantee ensuring every new Hyundai's resale value two to four years down the road. Unfortunately for most folks still shopping for a Hyundai, that program has now ended. Keyword being "most" since Hyundai will no longer ensure the value of their mainline cars, but well-heeled buyers of the Genesis and Equus models can still sleep well knowing their high-end Hyundai will depreciate at a rate comparable to their neighbor's Toyota Avalon.
"It was a marketing program and we wanted to bring a spotlight on the strength of our residual values, and it did its job," John Krafcik, CEO of Hyundai Motor America tells Automotive News.
Residual value consulting agency ALG says the data seems to back that up. Residual value of the Equus is third best in the premium-lux market behind the Lexus LS460 and the Jaguar XJ and the Genesis sedan is second only to the Nissan Maxima among full-sized cars.Hyundai downscales vehicle buy-back promise originally appeared on Autoblog on Wed, 29 Feb 2012 11:02:00 EST. Please see our terms for use of feeds.
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Back in April, Hyundai launched the Assurance Trade-in Value Guarantee ensuring every new Hyundai's resale value two to four years down the road. Unfortunately for most folks still shopping for a Hyundai, that program has now ended. Keyword being "most" since Hyundai will no longer ensure the value of their mainline cars, but well-heeled buyers of the Genesis and Equus models can still sleep well knowing their high-end Hyundai will depreciate at a rate comparable to their neighbor's Toyota Avalon.
"It was a marketing program and we wanted to bring a spotlight on the strength of our residual values, and it did its job," John Krafcik, CEO of Hyundai Motor America tells Automotive News.
Residual value consulting agency ALG says the data seems to back that up. Residual value of the Equus is third best in the premium-lux market behind the Lexus LS460 and the Jaguar XJ and the Genesis sedan is second only to the Nissan Maxima among full-sized cars.Hyundai downscales vehicle buy-back promise originally appeared on Autoblog on Wed, 29 Feb 2012 11:02:00 EST. Please see our terms for use of feeds.
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