Hyundai: Assurance plan lures risk-wary shoppers

Hyundai Offers Deal to Let Consumers Return Cars if They Lose Their Jobs

By Bradford Wernle
Automotive News | February 16, 2009 - 12:01 am EST

CHICAGO — Hyundai says its Assurance program, which allows customers to return
vehicles if they lose their jobs, is attracting shoppers.

"We think it's responsible for a 10 to 15 percent incremental increase in interest," said John
Krafcik, acting CEO of Hyundai Motor America, citing statistics from edmunds.com.

Hyundai started the program in early January and saw immediate interest, Krafcik said in an
interview at the Chicago Auto Show.

Krafcik said Hyundai has committed to the Assurance program for a year with its partner,
Walkaway USA, a subsidiary of EFG Cos., a Dallas company that specializes in automotive
retailing.

Only two customers have returned cars under the program, Krafcik said. Customers must
make two payments on their vehicles before returning them, he said.

Hyundai was one of just four brands — Kia, Smart and Subaru were the others — whose
sales increased in a dismal January. Hyundai sales rose 14.3 percent compared with
January 2008. Krafcik credited the Assurance offer and the fact that the Genesis sedan was
named North American Car of the Year by a group of auto journalists.

Hyundai said prices for the Genesis coupe, which is scheduled to arrive in dealerships this
spring, will range from $22,750 for a basic Genesis Coupe 2.0 T to $31,750 for a loaded
Track model powered by a 3.8-liter V-6. Hyundai also launched the R-Spec, a budget
performance coupe geared to tuners. Prices start at $24,500. Prices include shipping.

About WALKAWAY USA, LLC

WALKAWAY USA, LLC http://www.walkawayusa.com is a division of EFG Companies http://www.efgcompanies.com, an industry leader in providing innovative performance management solutions and technologies to the retail auto industry. WALKAWAY USA markets and administers WALKAWAY® Protection for Automotive Financing. WALKAWAY is the First and Only Vehicle Return Program™ that protects consumers from financial shortfalls arising from the depreciation of new and used vehicles (negative equity).

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