This one is a little off topic but since most of us have at least partially marketing based jobs, figured it’s fair game.
Hyundai Motors has announced a promotion that is targeted at these times. Given that many people who are capable of purchasing a new car are sitting on the sidelines due to uncertainty, they decided to attack it head on with an “Hyundai Assurance” program. This program says “buy a car now and don’t worry”. If you lose your job, drivers license, life, go bankrupt, etc., you can bring the car back no harm, no foul, no obligations. They’ll cover up to $7,500 in negative equity on the loan or lease.
This just strikes me as a very clever way to address an unprecedented lack of demand. It’s a potential game changer like the long warranties they’ve been offering to counter the old concerns about quality. I can’t wait to see how well it works for them.
Full disclosure: I have none. I don’t work for, invest in or own Hyundai shares or product (for now at least)
See results: Clever Promotions Work