BANDON, Ore. —
Data continues to show that debt-protection programs,
such as the Hyundai Assurance Program, are doing more than just simply driving
sales, reported CNW Research in March.
Surveying consumers shopping for a vehicle in any of
Hyundai’s market segment, as well as eventual buyers, about the carmaker’s
vehicle-return program, CNW found that more than half of “intenders” hadn’t
considered Hyundai before hearing about its program. The market research firm
also found that 53 percent of those surveyed said the program was the key reason
for considering the brand.
Additionally, CNW found that 28.7 percent added Hyundai
to their shopping list. And of those who already had the company on their list,
26 percent moved it up to the No. 1 spot.
“Would it work for anyone else? Not without a commitment
to market the plan consistently and widely,” wrote CNW’s Art Spinella. “Now
comes AutoNation offering a similar program. Buy a vehicle from one of its
stores and have car payments covered for six months if you lose your
job.”
So far, Spinella reported, 30 percent of customers in
the dealer group’s market say the program would make them consider shopping at
its stores over any other dealership.
