Hyundai considers extending Assurance incentive program

Hyundai Assurance Program

Hyundai’s CEO John Krafcik said today that it is considering extending its Hyundai Assurance incentive program in the United States. The program, which began in January of this year, allows consumers to return their vehicles if they lose their job.

Competitors, including General Motors and Ford, have widely copied the Hyundai Assurance Program, which has helped increase sales of the South Korean automaker during an economic hardship in the United States. Fewer than 50 customers have returned their vehicles under the program, Krafcik said.

Krafcik told Reuters that the automaker will keep the program running through the end of 2009. He said that Hyundai is “thinking now about how much further we should take it.”

Hyundai’s sales rose 20 percent to 342,217 vehicles in the United States during the first 9 months of 2009. Overall U.S. auto sales fell almost 30 percent.

– By: Stephen Calogera

Source: Reuters