13thAnnual ALG Awards Honor Elantra in Compact Car Segment
COSTA MESA, Calif., Nov. 16, 2011– Hyundai today announced that the 2012 Elantra has received a Residual Value Award from ALG in the Compact Car segment. ALG, the industry benchmark for residual values and depreciation data, annually recognizes automakers’ outstanding achievements in producing new vehicles that are predicted to retain the highest percentage of their original price after a conventional three-year period. Awards are given in 19 vehicle categories.
This year’s awards are based on 2012 model year vehicles.
“The Elantra’s eye-catching sporty profile and upscale interior, combined with Hyundai’s increasing image of quality, earn the model its second consecutive win in the Compact Car segment,” said Raj Sundaram, ALG. “High demand and minimal incentives also help it nab the top spot.”
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 remain the key factors that affect ALG’s residual value forecasts.
“Hyundai’s Elantra stands out in the competitive compact segment, offering innovation, content, style, and 40 mpg highway standard fuel economy,” said Mike O’Brien, vice president, Product and Corporate Planning, Hyundai Motor America.
“Strong residual value is an important element in Hyundai’s overall value equation, reducing the overall cost of ownership and allowing us to offer customers the Hyundai Assurance Trade-In Value Guarantee.”
The Trade-In Value Guarantee is the newest addition to the Hyundai Assurance suite of programs. It eliminates concern about depreciation by giving Hyundai owners a guaranteed value for their vehicle in months 24 through 48 of ownership.
The 2012 Elantra sets the bar in the compact sedan category offering a “class-above” midsize car interior volume, modern design, outstanding fuel economy, and loads of comfort and convenience features, all at an attractive starting price. Elantra also delivers standard advanced safety technologies including a new Vehicle Stability Management (VSM) system to optimally manage Electronic Stability Control (ESC) and the Motor-Driven electric Power Steering (MDPS).
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.