Hyundai's CPO program moves from last to third in just two years
FOUNTAIN VALLEY, Calif., 05/15/2009 Hyundai ranked third in the industry in Intellichoice's Best Certified Pre-Owned (CPO) Programs for 2009 in the non-luxury category -- moving up 24 slots since its debut just two years ago and now trails only Mini and Volkswagen.
"Hyundai's CPO sales were up 58.5 percent in the first four months in an industry down 7.3 percent, evidence that our CPO program is attracting consumers to our brand," said Tracy Bowes, manager of assurance products, Hyundai Motor America. "Having America's Best Warranty™ on our pre-owned vehicles is just another example of how Hyundai stands behind our quality, allowing us to grow in an extremely competitive market."
The pre-owned program and pre-owned warranty provides buyers with an added level of comfort and satisfaction with their vehicle purchase. The enhanced pre-owned program launched to Hyundai dealers in May 2007 with the warranty being effective from date of original sale.
Hyundai's enhanced Certified Pre-Owned vehicle program provides buyers with:
- Vehicles up to five model years old with less than 60,000 miles are eligible
- 10-year/100,000-mile powertrain warranty (from original purchase date)
- 150 point inspection
- $50 deductible
- Roadside assistance
- Rental car coverage (up to $35/day for up to 10 days per occurrence)
- Towing coverage (up to $75 per occurrence)
- Travel breakdown coverage (up to $375 per occurrence) - Diagnostics
- Related damage for specific parts
- New car financing rates through Hyundai Motor Financing Company
Additional options available to the Certified Pre-Owned Limited Warranty include service contracts such as the Hyundai Certified Pre-Owned Wrap Contract which raises the comprehensive coverage on non-powertrain components, Hyundai Vehicle Care Maintenance Program, and Hyundai Road Hazard Tire and Wheel option.
"Hyundai's growth in our analysis coupled with their success in the marketplace is a true testament to their focus on the customer," said James Bell, editor and publisher of IntelliChoice.com. "The key value of purchasing a Certified Pre-Owned vehicle is the overwhelming sense of 'peace' that comes from buying a vehicle at the right price coupled with assurance that the dealer and manufacturer will stand up for you should there be a problem down the road. We applaud Hyundai for keeping this focus, especially in these economically difficult times."
IntelliChoice has conducted the CPO analysis for the last ten years. IntelliChoice analyzes eight elements:
Warranty Inspection List
Vehicle History Report
The overall rankings were determined by adding the scores of each of the certified areas. Each area was weighted based on consumer preference and overall consumer benefits.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 790 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by The Hyundai Advantage, America's Best Warranty. In addition, Hyundai Assurance is now offered on all new vehicles leased or purchased from a certified Hyundai dealer. The program is available to any consumer, regardless of age, health, employment record or financed amount of the vehicle. The program is complimentary for the first 12 months.