By on January 12, 2010

Assured success?

NPR reports that Hyundai’s Assurance Plan, which is widely credited for much of that automaker’s success since the financial meltdown, has been taken advantage of fewer thn 100 times since it was instituted a year ago. In that time, Hyundai has sold over 435k vehicles, meaning the program has cost surprisingly little. Hyundai Motor America CEO John Krafic explains:

we treat it almost like a kind of insurance, a kind of social insurance, so we had to make some, you know, financial set-aside for it. And in the end, it ended up being substantially below what our expectations were, thank goodness.

According to Krafic, the program took only 37 days to implement. [Hat Tip: ClutchCarGo]

Recent Comments

  • FreedMike: +1 million!!!!!!! LOVE the unaccompanied test drives.
  • sgeffe: Not to mention that I’m sure the commie apparatchik in China will be taken care of!
  • mcs: I can see a lot of use-cases for it. Campgrounds usually have power enough to run a level-two charger. I’m...
  • dal20402: Yep, it hurts a lot if prices go up but wages don’t. But in this labor market wages are going up for...
  • FreedMike: This is damning them with faint praise, but if you compare car buying to what it was when I started buying...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Jo Borras
  • Mark Baruth
  • Ronnie Schreiber