COSTA MESA, Calif., June 8, 2012 – The Hyundai brand climbed 25 percent to achieve the second highest level of improvement in perception of quality over the last five years according to ALG, the industry benchmark for vehicle value. ALG’s semi-annual Perceived Quality Study (PQS) surveys more than 3,500 U.S. consumers in order to gauge perceptions of mainstream and luxury brands.
“Improving perception is like turning a ship, and Hyundai is one of the few brands to make significant progress during the past five years,” said Eric Lyman, vice president, Residual Value Solutions, ALG. “Hyundai’s improved product and marketing are helping consumers understand Hyundai’s increased value in the marketplace.”
Now in its fifth year, ALG’s Perceived Quality Study is a semi-annual consumer survey measuring the perceived quality of automotive brands. PQS is one of the metrics ALG examines in calculating its industry benchmark residual values, helping companies and consumers understand the future value of their vehicles.
“This level of long-term improvement in perceived quality is proof of Hyundai’s all-around growth,” said Mike O’Brien, vice president, Corporate and Product Planning, Hyundai Motor America. “Car shoppers truly recognize Hyundai as a trusted brand and our recent record breaking May sales is a testament to that.”
Hyundai’s ongoing success is largely attributed to the continued positive reception of the 2012 North American Car of the Year Elantra and Sonata and Accent models, as well as the all-new Azera, all four of which have received significant consumer interest and positive reception since their respective launches. These vehicles in addition to the rest of the Hyundai lineup contributed to Hyundai’s success last month with an all-time May sales record of 67,019 units, the second best sales month in company history. Elantra also won a 2012 Residual Value Award from ALG.
The complete study with scores lists and details is available from ALG at: https://www.alg.com/pdf/pqs_2012_spring_report_final.pdf
Based in Santa Barbara, California, ALG is the benchmark of vehicle value information to the automotive industry. ALG publishes the “Residual Value Guidebook” – the standard for residual value projections in North America, and has been forecasting automotive residual values for nearly 50 years in both the U.S. and Canadian markets. For more information, visit www.alg.com.