By Kim Tae-gyu
Hyundai Motor’s 2012 Elantra, known as the Avante in Korea, was picked as the best compact car in terms of residual value in the United States, according to an American vehicle consultancy.
ALG, the industry benchmark for residual value and depreciation data, announced the Annual Residual Value Awards in 21 areas Wednesday and named the Elentra as the winner of the mid-compact sector.
``The Elantra’s eye-catching sporty profile and upscale interior, combined with Hyundai’s increasing image of quality, earned the model its second consecutive win in the compact car segment,’’ ALG President Raj Sundaram said.
``High demand and minimal incentives also helped it take the top spot.’’
The 2012 Elantra has gained popularity based on its modern design, outstanding fuel economy and comfort and convenient features at affordable starting prices, according to Hyundai.
It also has advanced safety technology such as a vehicle stability management system designed to optimally manage electronic stability control and motor-driven electric power steering.
Hyundai Motor America Vice President Mike O’Brien said in a statement that the award showcases that the Elantra retains one of the highest percentages of its original price after a conventional three-year period.
``Hyundai’s Elantra stands out in the competitive compact segment, offering innovation, content, style and 40 mile-per-gallon highway standard fuel economy,’’ O’Brien said.
``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 refers to the latest addition to the Hyundai assurance suite of programs ― it tries to eliminate concerns about depreciation by giving owners its vehicles a guaranteed value for their vehicles between two to four years of ownership.
Japanese vehicles showed strong performances as they topped the podium in 11 of the 21 categories.
Meanwhile, Hyundai Motor Vice Chairman Chung Eui-sun participated in the LA Motor Show to demonstrate the Seoul-based company’s newest models at the annual exhibition.
Hyundai and its sister company Kia Motors presented a host of models including concept cars, fuel cell vehicles and commercial models such as the Azera at the fair, which will continue through next week.