Hyundai offers guarantee on trade-in prices for new cars in US

Article by Christian Andrei, on April 23, 2011

Hyundai Motor America is guaranteeing the trade-in value of a newly bought Hyundai vehicle between 24 and 48 months of ownership. The launch of this program was made only a couple of days after Steve Shannon assumed his position as the new vice president of marketing.

Hyundai, which just had its best sales month ever in March, has been undertaking aggressive marketing campaigns that are meant to oppose a perception among consumers that its cars aren’t able to hold their value.

Trea Reedy, Hyundai's national manager, dealer marketing and resource management, said that while Hyundai’s quality and resale values are steadily rising, the customers don’t share this perception.

This program provides that if the car’s assessed current market value is higher than its guaranteed value, then this amount can be applied to the new car purchase. In the event that this is lower, the customer is guaranteed the initial value.

But to qualify, the vehicles have to be maintained at Hyundai dealerships. Reedy explained that customers won’t have to worry with Hyundai’s guarantee of a specific value within two to four years.

Reedy said that what this means is: "We have their back." He said that this program is expected to prevail over a remaining barrier to buying Hyundai vehicles.

Reedy said that Hyundai is already selling at full capacity and that this action proves that the carmaker is committed to its customer base. In March 2011, Hyundai’s sales broke records -- higher by 32% when compared to the same period last year.

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