• Mar 30th 2011 at 3:31PM
  • 8
Effective tomorrow, Hyundai is reportedly ending its vehicle return program, which allowed Hyundai owners who unexpectedly lost their income to return their cars. The program was a breakthrough when it was introduced in January, 2009 at the height of the global credit crunch.

According to Inside Line, only 350 people have taken advantage of the program, which fell under the blanket of the automaker's Hyundai Assurance coverage package. With the job market slowly returning to a somewhat normal state and economic conditions on the rise, Hyundai apparently feels that the program has outlived its usefulness.

In the face of a worrying economy, Hyundai of America moved 538,228 vehicles in 2010. Despite the loss of the vehicle return program, the Korean automaker will apparently continue other programs associated with Hyundai Assurance, including its 10-year/100,000-mile warranty and five-year roadside assistance plan.

[Source: Inside Line | Image: Jung Yeon-Je/AFP/Getty]

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    • 1 Second Ago
      • 4 Years Ago
      Yeah, it definitely was a KILLER marketing move. Helping 350 people out in a time of need isn't small potatos either.

      I remember when the program first came out, people at work who knew NOTHING about cars were talking about how cool it was. One of those people is actually driving a 2009 Sonata Limited now, so the commercial caught their attention.

      • 4 Years Ago
      This means the economy is recovered, right? ;)
      • 4 Years Ago
      At only 350 cars, at a loss of say 7500 a car, the program came out to about 2.6Million, but probably sold them tens of thousands of extra cars. Pretty smart marketing.
        • 4 Years Ago
        $7500 a car?! IIIIIII think they all got resold as demos, maybe at $5k off, compared with $2k off a typical Hyundai, so I'd say it cost them about $3k a car, max.
      • 4 Years Ago
      Hyundai didn't actually provide the coverage so they didn't technically lose money on those returned vehicles. They used a 3rd party insurance company to provide this, which has been available commercially prior to Hyundai's use of the program. But it was the first time an OEM offered it across the line-up and at no cost to the customers. All it cost Hyundai was the insurance premium to buy and offer the program to the masses.
      • 4 Years Ago
      I actually forgot that they offered this program. It was definitely a smart business move on Hyundai's part. The money they made on increased car sales and the good will the program fostered definitely made up for any money they may have lost from the 350 returned vehicles.
      • 4 Years Ago
      It was ingenious and thoughtful marketing.
      • 4 Years Ago
      i wonder what other packages they would come up with
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