Following up

We continue to be impressed with Hyundai and their innovations in products and marketing. In a post a couple of years ago (you remember when the world was coming to an end), we talked about Hyundai’s innovative programs to help people overcome their fear of buying a new car. (Most experts agree that fear of loss or failure is a bigger motivator of behavior than opportunity to gain.) The overall U.S. auto market dropped 20% in 2009, yet Hyundai’s U.S. sales grew 8% that year.

Later that year Hyundai added a gasoline price guarantee. We just read where they are going to announce a guaranteed trade-in value for their cars if you buy them new starting in May. That is, they are going to give you a guarantee as to the greatest depreciation in value you will see. Others note their cars have the highest trade-in value (at least they did). Hyundai is going to guarantee that trade in value. It will be interesting to see how this works.

Mitch

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