HYUNDAI SEES BIGGEST LONG-TERM GAIN IN FALL 2011 ALG PERCEIVED QUALITY STUDY
Hyundai Brand Moves to 9th Place, a Gain of Nine Spots in Three Years
COSTA MESA, Calif., Nov. 10, 2011– The Hyundai brand continues its upward momentum, with the industry’s biggest long-term gain in ALG’s Fall 2011 Perceived Quality Study (PQS). Hyundai earned the No. 9 spot moving up nine spots from 18th place over the past three years. Twice a year, ALG surveys approximately 3,000-4,000 U.S. consumers to gauge perceptions of a number of mainstream and luxury automotive brands for its PQS.
“Hyundai has made impressive efforts to improve brand perception and we can see that it has truly paid off in the mainstream rankings,” said Eric Lyman, Vice President, Residual Value Solutions, ALG.
Hyundai’s ongoing success is largely attributed to the positive reception of the newly redesigned Elantra and Accent models, as well as the all-new Veloster, all three of which have received significant consumer interest and positive reception since their respective launches. These vehicles in addition to the rest of the Hyundai lineup contributed to Hyundai’s success last month in shattering 2010’s full year sales record with 545,316 vehicles sold to date.
“Hyundai continues to impress car shoppers with the level of quality throughout the lineup from the entry level Accent all the way to our flagship Equus sedan,” said Frank Ferrara, executive vice president, Customer Satisfaction, Hyundai Motor America. “And, with a slew of recently launched and redesigned models, Hyundai quality and brand perception will continue to grow.”
Based in Santa Barbara, California, ALG is a leading provider of data and consulting services to the automotive industry. ALG publishes the “Automotive Lease Guide” – the standard for Residual Value projections in North America, and has been forecasting automotive residual values for over 45 years in both the U.S. and Canadian markets. ALG is a subsidiary of TrueCar, Inc.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Costa Mesa, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through about 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai's 10-year/100,000-mile powertrain warranty and 5-years of complimentary Roadside Assistance.