(Johannesburg, South Africa) The Hyundai brand continues to win accolades in the United States as this week four Hyundai vehicles placed at the top of their segments in AutoPacific’s 2007 Ideal Vehicle Award (IVA) while Automotive Lease Guide, for the first time ever, gave higher residual values to a Hyundai vehicle than to a Toyota equivalent.
In the AutoPacific study, Hyundai topped the following four segments:
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Most Ideal Premium Mid-Size Car: Hyundai Sonata
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Most Ideal Compact Car: Hyundai Elantra
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Most Ideal Compact Crossover SUV: Hyundai Tucson*
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Most Ideal Minivan: Hyundai Entourage
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Hyundai Tucson also awarded the Vehicle Satisfaction Award
AutoPacific’s second annual IVA ranked auto manufacturers for how closely their 2007 model year cars or trucks came to matching owners’ expectations and criteria. The vehicles that customers said they would change the least were considered the most “ideal.” Criteria for the award include consumer trust, anticipation, expectations and reality.
“Hyundai has done an outstanding job understanding their target buyer and is creating the product that is ‘ideal’ for its buyers,” said AutoPacific’s President, George Peterson.
“These awards are a reflection of Hyundai’s continued commitment to our customers,” said John Krafcik, vice president, Product Development and Strategic Planning, Hyundai Motor America. “The Hyundai brand stands for industry-leading quality, superior standard safety technology, and great value. With these values we’ll continue to work hard to meet the expectations of our customers.”
To determine the winners, AutoPacific asked owners to rate their new car or truck on how close it came to “ideal” in the following areas: exterior size; passenger roominess; cargo space; driver’s seat comfort; driver’s seat visibility; interior technology; power; ease of getting in and out; interior storage compartments; and tyres and wheels. The IVA ratings reflect input from buyers of new vehicles purchased from September 2006 through December 2006. Over 24,000 respondents provided input for these awards.
Earlier this week, Hyundai scored another first in the United States when Automotive Lease Guide awarded a higher residual value to the 2008 Hyundai Veracruz than to its direct competitor, the Toyota Highlander.
| 2008 | 2008 | |||
| Veracruz | Highlander | Hyundai Advantage | ||
| FWD | Base | 52 | 48 | 4 |
| Mid | 50 | 46 | 4 | |
| Top | 50 | 44 | 6 | |
| AWD | Base | 53 | 51 | 2 |
| Mid | 51 | 49 | 2 | |
| Top | 50 | 48 | 2 |
In a direct comparison, the Veracruz enjoyed a 2% to 6% residual advantage over the brand-new Highlander after three years of ownership. Santa Fe and Azera also saw a sharp rise in their residual values, an acknowledgement of the outstanding durability, reliability and quality of these newest Hyundai-made vehicles.
AutoPacific is a future-oriented automotive marketing and product-consulting firm. Every year it publishes a wide variety of syndicated studies for the automotive industry. The firm also conducts extensive proprietary research and consulting for auto manufacturers, distributors, marketers and suppliers worldwide.
Automotive Lease Guide is the teading provider of residual value information, analytical data products, software solutions, and consultation to the automotive industry. Please browse our web site for more information about our products and services, news involving ALG, and become a member to our online services.
Established in 1967, Hyundai Motor Co. has grown into the Hyundai-Kia Automotive Group which was ranked as the world’s sixth largest automaker in 2006 and includes over two dozen auto-related subsidiaries and affiliates. Employing over 68,000 people worldwide, Hyundai Motor posted US$29.4 billion in sales in 2006 (on a non-consolidated basis, [US$68.4 billion consolidated]). Hyundai vehicles are sold in 193 countries through some 5000 dealerships and showrooms.
