I know I already spoke of Hyundai yesterday with the possible US-release of Equus, but I just had to mention/bring this up. Hyundai has been one of the 3 car companies that have had positive sales in these tough times. How?
It’s what Hyundai calls “Assurance Program.” It’s rather ingenious in that it provides the buyer with an option to return the car within 1 year of the purchase date if he/she gets laid off and can’t make the payments. Now, that’s a creative way to sell cars.
The bigger question is, how come other car makers (hint hint, GM, Ford, and Chrysler) don’t try something as creative and just ask us for more money?!! Ah ha… yup. That’s what I thought…
Just to be fair, Ford get loans via taxpayer money. They asked for access just in case. Ford is not in a dire shape. GM and Chrysler on the other hand….
So yeah, if I am in the market for a new car, I will think 3x before considering a GM or Chrysler product simply because I think bankruptcy is a perfectly legitimate way for them to deal with their costs (but of course unions will not like that and if unions do not like it, the democrats, who control congress and the presidency, will not either – so I figure we, the taxpayers, will end financing more of their losses). It’s too bad since Americans make great trucks and I like the new cadillacs.
BTW, Hyundai has always had an air of value and so even with that program, I would not be surprised if they were doing ok – even with their chairman in jail – or is he out of jail now? 🙂
Oops 2 corrections I meant to say:
Ford DID NOT get loans via taxpayer money
and
Even without the assurance program, I would not be surprised if Hyundai would have been doing ok