Hyundai announced a new program, “Shopper Assurance” that promises to flip traditional car buying on its head.
According to SFGate.com, Shopper Assurance evolves Hyundai’s test driving policy, pricing transparency, and purchasing.
All purchases are now eligible for a three-day money back offer, as well as published fair market pricing on dealership websites that have company discounts and incentives baked in.
Also, test drives will now see vehicles delivered to potential customers. The program also streamlines purchases, with paperwork inclusive of online-friendly options to perform monthly payment calculations, complete a loan application, and ways to assess the value of trade-ins.
Hyundai’s move is in response to weak U.S. sales, down 13 percent this year compared to the overall market of 2 percent. Also, Hyundai ranked as one of the brands with the longest sales transaction times, forcing them to ‘Amazonize’ its process by bringing dealership features to its web pages.
In the past, Hyundai has introduced shopper-centric programs designed to boost retention, such as its 2009 ‘Assurance’ program which provided a job-loss protection guarantee allowing drivers to return the vehicle in the event of a layoff.
Think this is something that’ll help Hyundai? Is it a trend the rest of the auto industry will follow?