1 May 2009 - In a New Zealand first today, Hyundai Motors New Zealand launched Hyundai Assurance* - a scheme that allows customers to return their car if they get made redundant.

This follows Hyundai in the US who launched their Assurance scheme in January. Both companies have been defying the recession and posted growth results despite operating in declining markets. Hyundai New Zealand sales YTD have grown 4.47% in an overall market that dropped 31.82%.

"The Assurance policy provides peace of mind and a safety net for our customers in these increasingly difficult times," said Tom Ruddenklau, National Sales Manager for Hyundai Motors New Zealand.

Hyundai Assurance is free to all private individuals who finance a new or used Hyundai through a Hyundai dealer.

"We have been committed to New Zealand motorists for 27 years, and in that time they have put their trust in us. Launching Hyundai Assurance is a return of that trust and reaffirmation of our commitment to the New Zealand consumer." Tom continued.

With the unemployment rate expected to increase to near 7.5% in mid-2010 from a low of 3.4% in December 2007, the launch of Hyundai Assurance couldn't come at a better time for New Zealanders. We know how quickly a family can find themselves experiencing financial difficulty and we feel a responsibility to help our customers as much as we can through that period."

Hyundai Assurance works by providing cover should the car owner lose their income in the first year of buying their Hyundai. Their loan installments will be paid for up to three months while they seek new employment and if they're unable to find new employment, the customer can simply return the vehicle to the dealership and walk away - no dramas, no embarrassment and no bad credit record.

Hyundai have partnered with MARAC Insurance Limited to deliver Hyundai Assurance. Like Hyundai Motors New Zealand, MARAC is a long standing locally owned and operated New Zealand Company.

"Hyundai is already one of the country's leading vehicle brands and Hyundai Assurance will instill even greater confidence in New Zealander's when purchasing a Hyundai. The Assurance programme also reaffirms both Hyundai's and MARAC's commitment to New Zealanders in these uncertain times." said Andrew Brown, MARAC's National Insurance Manager.

Tom Ruddenklau finished by saying, "This initiative is just the good news story New Zealand needs at the moment, it is not surprising it has come from Hyundai, we are a company on the move."