Jan 6, 2009 11:00 am US/Pacific
Hyundai Starts 'Assurance Program' To Boost Sales
DENVER (CBS) ―
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The Hyundai assurance program applies to people who also receive a job transfer overseas. It also kicks-in when there is an accidental death of physical disability.
CBS
One car company is starting a new program to try and help would-be buyers get over their uncertainty about the economy and employment, CBS station KCNC-TV reports.
Hyundai is offering a so-called assurance program.
People that buy a car, then lose their job or their business goes bankrupt, can return their new Hyundai within a year and get the appraised value plus $7,500 in depreciation.
"You always think with something good, there's a catch. So what's the catch?" said Sue Morris, a consumer at Planet Hyundai on Monday.
"There isn't one," said Bart Potenzo, general manager of the car dealership. "It's very simple, in plain black and white, one page form. You lose your job, lose your income, bring the car back, Hyundai will take it back."
The Hyundai assurance program applies to people who also receive a job transfer overseas. It also kicks-in when there is an accidental death of physical disability.
The program started last Friday and Planet Hyundai said it has already generated a lot of interest.
The hope is the program will help turn around sales.
Across all car makers, sales were down 18 percent in 2008 compared to 2007.
Total sales were at just over 13 million last year. Analysts predict that could fall to 10 million this year if the economy doesn't recover.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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