REPORT: Hyundai may extend Assurance program, go after fuel economy crown

[Haltech]

Filed under: Marketing/Advertising, Hyundai, Earnings/Financials

If you haven't noticed, Hyundai's been on a multifaceted tear lately. Earlier this year, Hyundai came out with its Hyundai Assurance Program, letting customers return their cars if they suffered a loss of employment. CEO John Krafcik confirms that Hyundai Assurance is staying until the end of 2009, and its future beyond that is under serious scrutiny. Aside from its new models, the innovative car-return initiative was probably the biggest news to come out of Hyundai all year, and other automakers have followed suit with similar plans of their own.

While everyone else is down and the overall market has taken a 30% whack, Hyundai's U.S. sales are up 2% for the first nine months of this year.

Rather than rest on its laurels, Hyundai wants to further increase its sales. Turning over the cars it has to offer has made the Korean automaker's model mix relatively fresh, and word is they are going after America's fuel-economy crown, as well. While there is a hybrid Sonata on the way, the new model is probably not going to move Hyundai up from #3 in fuel efficiency all on its own (the automaker trails Toyota and Honda), so the rest of its fleet is reportedly getting a fine-toothed once over.


[Source: Automotive News - sub. req.]REPORT: Hyundai may extend Assurance program, go after fuel economy crown originally appeared on Autoblog on Thu, 22 Oct 2009 10:40:00 EST. Please see our terms for use of feeds.



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