FOUNTAIN VALLEY, Calif., 07/22/2009 J.D. Power and Associates announced today that the Hyundai Genesis is the highest ranked 2009 all-new or redesigned vehicle in the inaugural Vehicle Launch Index(SM) (VLI). This result comes after the Hyundai Genesis significantly contributed to Hyundai's high marks in the J.D. Power and Associates' 2009 Initial Quality Study(SM) (IQS) announced in June in which Hyundai was the highest ranked non-premium nameplate. On July 16, 2009, Genesis was also designated J.D. Power's most appealing midsize premium car in the 2009 Automotive Performance, Execution and Layout (APEAL) Study(SM).
The Vehicle Launch Index quantifies how well 2009 new vehicles–including new entries to the market, all-new and redesigned models–perform during the first eight months after launch. Genesis' performance in the IQS and APEAL studies is significant because VLI includes the key factors of vehicle quality and design, included in both studies. The VLI also examines various factors that are critical to the financial success of a launch, including turn rate, vehicle revenue, dealer gross profit, incentive spend, credit quality and residual value.
"Genesis represents everything Hyundai knows about engineering, building, and launching great automobiles," said John Krafcik, Hyundai Motor America president and chief executive officer. "Awards like VLI help reaffirm what we're hearing from the marketplace – that Genesis has been a tremendous success in generating incremental sales, building the Hyundai brand, and satisfying our most demanding consumers."."
The J.D. Power and Associates VLI recognition will join the growing number of Genesis honors and accolades including North American Car of the Year, Kiplinger's Best New Model for 2009, AutoPacific's Vehicle Satisfaction Award, and more. Hyundai's Genesis sedan sets a new benchmark in the premium car category. With a starting price of just $33,000, Genesis includes performance and luxury features typically found on vehicles costing thousands of dollars more.
The VLI looks at 2008 and 2009 model-year vehicles first sold between January and October 2008. Vehicles must be all-new or major redesigns and must sell at least 5,000 units during the first eight months to be included.
Hyundai Motor America, headquartered in Fountain Valley, Calif. is a subsidiary of Hyundai Motor Company of Korea. Hyundai cars and sport utility vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced by more than 790 Hyundai dealerships nationwide.