Hyundai scores well in value survey

[Chalupa]

Hyundai scores well in value survey
Improved customer impression of quality helps Korean automaker rank No. 2 behind Lexus.

October 4, 2004: 6:47 AM EDT

NEW YORK (CNN/Money) - Cars made by Korea's Hyundai have been rated as the best value among all makes due to improved customer opinion of its quality, according to a published report Monday.

USA Today, citing a survey by consulting firm Strategic Vision, said the once-maligned brand is rated as No. 2 in value, behind only luxury auto brand Lexus.

The paper quoted Daniel Gorrell, vice president of the automotive practice for Strategic Vision, as saying Hyundai was helped by both the improved impression of quality as well as a long warranty. The automaker has always made relatively low-priced vehicles, but in the past quality concerns hurt customers' view of its quality.

"Not very long ago, they were the butt of jokes," Gorrell told the paper.

The survey was not good news for U.S. automakers. General Motors Corp. (GM: Research, Estimates)'s Cadillac, which tied for seventh with Honda, was the only U.S. nameplate to make the top 10 list, although Swedish automaker Volvo, which is owned by Ford Motor Co. (F: Research, Estimates), ranked tied for tenth with Audi.

U.S. automakers have offered larger and larger incentives such as cash back or zero-interest financing to move their vehicles, but Gorrell told the paper that buyers only believe those offers only price the vehicles where they should be.

"Incentives are not equating with value for the domestics," he told USA Today.


*Source: CNN/Money

[DigitALL]

Unbeliveable ! HYUNDAI " Prepare to want one ! " Hehehe ...