What Ford/GM and Chrysler should have done is get a couple of billion from their huuuuuuge ‘bonus’ and put it into a scheme like this – had it happened, even with their shite cars, they may have attracted people back to the good ol’ USA as opposed to sitting there like the bloated dinosaurs they are and see their industry get a final nail thanks to the Koreans.

Someone should maybe have warned the US Government that it’s not North Korea that is out to undermine America, but South Korea and their Hyundai car, ha!

I agree that Hyundai have to be careful with a possible launch of a 4-year assurance scheme. It could backfire.

Here’s a better execution of the first ad:

http://www.youtube.com/watch?v=bVAWviuVmK4&feature=related

Isn’t it ironic that when the American big 3 are fighting to get as much money as possible from the American tax payer, a Korean auto maker comes in positioning themselves as a brand “trying to help” that very taxpayer. Sure, it’s out of self-interest, but interesting nevertheless and an indicator of the economic power shift from the West to the East that’s happening right now.

Saying that, it seems it has been successful in converting people to Hyundai … and I’d love to know if they’ve increased the unit price of the car to cover any potential ‘claims’ on the offer.

In these days of uncertainty, people will pay more for a sense of assurance than in other times. Funny how so few of the recession papers adland has put out has pointed that fact/issue/opportunity out.

By the way, I read that next month Hyundai plan to extend their ‘offer’ to cover a 4 year period. Whilst that is amazing, I question [1] how the people who bought the one year deal will feel and [2] how they’ll cope if there’s a mass redundency epidemic. I know they are an enourmous company but giving that length of ’security’ seems very much like a sub-prime kinda gamble … I hope for the employees of Hyundai, this is a bet that doesn’t end up biting them on the ass.

http://www.autospies.com/news/Hyundai-s-Assurance-Program-Pays-Off-Big-Time-January-Sales-Up-14-40595/

I was surprised reading the fine print…seems more ‘genuine’ than I anticipated it to be. It sounded downright fraudulent at first. Of course, some strings attached, but overall much less of a ploy than I expected.

To qualify for the vehicle-return program, Hyundai buyers must have made at least two scheduled payments and be current on their loan or lease. Valid reasons for returning the car include involuntary unemployment, physical disability, international transfer, and personal bankruptcy for the self-employed.

The program will cover depreciation up to $7,500. Typical first-year depreciation, which can run about 25 percent of a vehicle’s price, would fall within that range for almost all Hyundai models.

Check it out:

http://www.hyundaiusa.com/financing/HyundaiAssurance/HyundaiAssurance.aspx

Can’t wait to hear the “trade-in” idea. See you soon mate.

I do get the idea – I do appreciate and like the ‘we believe in you’ approach – but I don’t think this ad communicates it properly, certainly not to the extent where a fear ridden US market would see it as a time to suddenly buy.

What happens if you have to give the car back? Do you get any money back? How is that figure evaluated? What about if you had a trade in, is that taken into account?

This might all sound overly rational, but in a country where everyday they are being bombarded with messages of doom and financial gloom, they are the elements that require clearer understanding before someone is even going to open their mind to that opportunity, let alone act upon it.

As I said the sentiment is there – the execution, abit like Hyundai cars themselves – is not.

Is there a better way?

Well as I said, while I accept this concept has potential, I genuinely believe there are better alternatives – including one which is a totally new way to look at ‘trade in’s’ but I’ll save that for when I see you because we’re in talks with someone about it and you know how George gets when I give things away for free, ha!