How to sell cars in a recession? Offer Assurance – Hyundai Assurance
January 14, 2009 5 Comments
One of the purchases most people put off in hard times is a new car. It’s a big purchase, one that involves a lot of consideration and can be delayed until better times.
To try and encourage people in the USA to buy cars, Hyundai have partnered up with Walkaway to offer Hyundai Assurance. It’s a program that allows people, no matter of the age, health or employment status, to buy a Hyundai with a 12month security blanket if something happens to you. It even covers people for up to $7,500 in loss (if your car value goes backwards).
This is a great marketing idea and I hope for the car industry that it extends to car brands other than just Hyundai. Until other brands offer the same assurance, it’s a great competitive advantage for Hyundai. This offer is probably best suited to Hyundai and other low cost car brands – better tie in with the target audience.
The offer is promoted on Hyundai’s homepage – it has it’s own landing page on the Hyundai site and microsite on the Walkaway website (which is where you find out all of the details).
- Great marketing idea – the assurance program shows that Hyundai (and Walkabout) understand their audience and the current climate. It is also a great way to try and stimulate consumption in a flat market.
- Reassurance – anything that can be offered to reassure a cautious audience to consume is beneficial. People need a guarantee before they will spend money or buy things that aren’t crucial.
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