MARKHAM, ON, Feb. 11, 2015 /CNW/ - The Hyundai Genesis premium sedan has been honoured with a 2015 Canadian Residual Value Award from ALG, an automotive insights company and authority on automotive residual values in North America. Winner in the Premium Fullsize Car category, the second-generation 2015 Genesis was launched by Hyundai Auto Canada Corp. as an all-new model in 2014.
"That the Genesis, the first vehicle in a new wave of products from Hyundai, won a residual value award is a testament to the incredible level of detail and advanced engineering that went into the car's development," said Don Romano, President and CEO of Hyundai Auto Canada. "With the launch of the all-new model, the Genesis delivered a number of firsts for Hyundai. It launched our new Fluidic Sculpture 2.0 design, was the first car with standard all-wheel drive, and served to introduce a barrage of safety and convenience technologies with new levels of refinement and craftsmanship. Clearly, this approach is resonating equally well with consumers and the industry experts at ALG."
ALG's Residual Value Awards recognize vehicles in 27 segments that are predicted to retain the highest percentage of their original price after a three-year period for Premium brands and a four-year period for Mainstream brands. Vehicle quality, production levels relative to demand, and pricing and marketing strategies represent key factors that impact ALG's residual value forecasts. This year's awards are based on 2015 model year vehicles.
"The importance of residual values can't be underestimated," said Geoff Helby, Canadian Regional Director at ALG. "They are an indicator of quality, reliability and consumer desirability while reflecting how well a vehicle is executed and the cost of ownership. Hyundai has been gradually building its credibility in the luxury market, and this all-new Genesis sedan makes a big statement that the brand is ready to fully compete in the Premium Fullsize segment. Hyundai's slow and steady approach to the luxury market has allowed the brand to build growing demand for its premium products."
Headquartered in Santa Barbara, California with an office in Toronto, Ontario, ALG is a leading provider of insights and consulting services to the automotive industry. ALG is the benchmark for residual value projections in North America, publishing residual values for all vehicles in the U.S. and Canada. ALG has been forecasting automotive residual values for 50 years in both the U.S. and Canadian markets. For more information, visit www.alg.com.
HYUNDAI AUTO CANADA CORP.
Hyundai Auto Canada, established in 1983 and headquartered in Markham, Ontario, is a subsidiary of Hyundai Motor Company of Korea. Hyundai vehicles are distributed throughout Canada by Hyundai Auto Canada and are sold and serviced through more than 210 dealerships nationwide. Hyundai is also the first to offer its zero-emissions Tucson Fuel Cell Electric Vehicle to Canadian customers. More information about Hyundai and its vehicles can be found at www.HyundaiCanada.com.
SOURCE Hyundai Auto Canada Corp.
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