Redesigned Genesis Predicted to Hold Value Better than Competing Models
LOS ANGELES, Nov. 20, 2014 – Hyundai’s all-new Genesis took the top spot in ALG’s Residual Value Awards for the Premium Full-Size Car segment. The 2015 Genesis is projected to retain the highest percentage of its original price after the typical ownership period of three years compared to competing models.
“Depreciation is oftentimes the greatest expense when it comes to a vehicle purchase and we aimed to deliver the all-new Genesis to our customers with exceptional value,” said Mike O’Brien, vice president of corporate and product planning, Hyundai Motor America. “Earning the ALG Residual Value Award is another proof point that Genesis and Hyundai’s premium strategy is paying off with customers.”
ALG Residual Value Awards are based on 2015 model year vehicles. Award winners are determined through careful study of the competition in each segment, historical vehicle performance and industry trends. Vehicle quality, production levels relative to demand, and pricing and marketing strategies represent key factors that impact ALG’s residual value forecasts. Hyundai was also honored in the 2013 ALG Residual Value Awards for the Santa Fe Sport and Accent, and in 2012 for the Santa Fe Sport, Azera and Elantra, attesting the continued value of Hyundai models.
“Hyundai is becoming a legitimate player in the luxury market with the Genesis,” said Larry Dominique, president of ALG. “Not only is it a great value on the showroom floor, but with the model’s first Residual Value Award, this new generation should be quite desirable on the used market as well.”
In addition to earning an ALG Residual Value Award this year, the 2015 Genesis was recently named to the prestigious North American Car of the Year short list, where the winners will be announced at the upcoming North American International Auto Show in Detroit. The 2015 Genesis was also recognized as a Top Safety Pick+ from the Insurance Institute for Highway Safety, Editors’ Choice from PC Mag.com, the Car of Texas from the Texas Auto Writers Association, and Top Family Choice from the Greater Atlanta Automotive Media Association.
Representing a bold step forward for Hyundai, the 2015 Genesis is all-new inside and out with a host of premium features and improved dynamics. Riding on a completely revamped platform, the sedan is stiffer and stronger than before. A suite of advanced assistance features such as Rear Cross-traffic Alert, Lane Change Assist, Blind-Spot Detection and Smart Cruise Control are offered. Two engine options are available: a 311 horsepower 3.8 liter V6 and a 420 horsepower 5.0 liter V8, while an advanced HTRAC AWD system is available for the first time on a Hyundai passenger car. With base pricing starting at $38,000, a true blend of premium value, safety, bold design and superb driving dynamics can be had with the 2015 Hyundai Genesis.
Founded in 1964 and headquartered in Santa Barbara, California, with an office in Toronto, Ontario, ALG is an authority on automotive residual value projections in North America. By analyzing nearly 2,500 vehicle trims each year to assess residual value – which is mainly driven by used car inventory, brand strength, macroeconomic conditions, incentive spending and pricing – ALG provides auto industry and financial services clients with resale insights, forecasts and consulting services about the future vehicle marketplace. ALG, owned by TrueCar, Inc., the negotiation-free car buying and selling platform, has been publishing residual values for all cars, trucks and SUVs in the U.S. for 50 years and in Canada since 1981. The 2015 Residual Value Awards, honoring new vehicles projected to best maintain their value, will be announced Nov. 17. For more information, visit www.alg.com.
TrueCar, Inc. (NASDAQ: TRUE) is the negotiation-free car buying and selling platform. TrueCar enables a negotiation-free car buying experience by giving buyers transparent insight into what others actually paid (price confidence), upfront pricing information (price discovery), and access to a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and seamlessly complete the car purchase. The reality is that buying a car is painful and buyers fear they are going to overpay or be surprised with hidden fees. TrueCar’s transparent upfront pricing information makes the car buying process simple so there are no surprises and buyers never overpay. TrueCar’s mission is to make car buying simple, fair and fun. Its national network of more than 9,000 TrueCar Certified Dealers, including both new car franchise dealers and non-franchise dealers, is committed to providing negotiation-free savings off MSRP and upfront pricing information for all car-buyers, including members of some of the country’s largest membership and service organizations such as AARP, American Express, AAA, and USAA. Note: Not all program features are available in all states. Go to www.truecar.com for program details. TrueCar is headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, 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 more than 820 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 limited warranty, Hyundai’s 10-year/100,000-mile powertrain limited warranty and five years of complimentary Roadside Assistance. Hyundai Blue Link Connected Care provides owners of Hyundai models equipped with the Blue Link telematics system with proactive safety and car care services complimentary for one year with enrollment. These services include Automatic Collision Notification, Enhanced Roadside Assistance, Vehicle Diagnostic Alert, Monthly Vehicle Health Report and in-vehicle service scheduling.