Hyundai has overtaken Toyota, Nissan, VW and Ford to take third place in ALG’s 2012 mainstream brand residual value rankings, according to figures released this year by the North American car industry benchmark for residual values and depreciation data.
The company’s new range of Modern Premium models is increasing sales, and the Middle East is playing a key part in this with 2012 Q1 sales in the region up 28 per cent on last year to a total of 81,239 units.
This is the first time it has been awarded a top three position, a statement from the company said.
A car’s residual value reflects how well a specific model holds its value over time, and is a great indicator of brand strength. ALG’s 2012 Annual Residual Value Awards recognise those brands that are committed to improving residuals by delivering superior products to customers.
In the compact car segment, Hyundai’s Elantra model, which is also the current North American Car of the Year, topped the chart with the highest residual value of all.
The company’s two premium level models, the Genesis and Centennial, reaffirmed the company’s ability to produce cars of the highest possible standards, the statement said.
In the luxury car segment, the Genesis claimed second place ahead of the BMW 5 Series, Mercedes Benz E-Class and Lexus GS 350/460, while the Centennial took a top three position in the premium luxury class, ahead of cars like the BMW 7 Series, Porsche Panamera and Audi A8, it said.
Hyundai is also listed at the top of the prestigious annual quality report from leading German car magazine, Auto Bild.
The award covers areas such as car ownership, build quality and warranty and recall information.
Tom Lee, managing director, Hyundai Middle East, said: “Customer confidence in Hyundai cars has never been stronger, as reflected by these honors from around the world.”
“Residual values are a key consideration for most customers when buying a car and buyers in the Middle East can be certain that when they buy a Hyundai, they are taking delivery of a car that meets the highest possible standards of quality and reliability,” he concluded. – TradeArabia News Service