This Wednesday, Hyundai Motor India has come forward with a unique and first of its kind EMI assurance program. This news has come as a respite amidst the period of uncertainty and fear. This program is valid for the purchases made during the month of May. Hyundai wants to assure its customers that even during the terrifying circumstances like job loss won’t affect their purchases.
According to Hyundai, the program covers up to three-car loan EMIs for selected new customers who are facing issues like loss of employment. The one-of-its-kind programs cover a time period of one year, from the date of sale, excluding the initial three months.
Mr. Tarun Garg, the sales, service, and marketing director of Hyundai believes that this program will bring in the much-needed peace of mind to the buyers during this terrific time. Hyundai understands the aspirations and dreams of a common man regarding buying a four-wheeler. So to ease down the burden of acquisition of a Hyundai car, the company has come up with this innovative, industry-first assurance program.
April has been nightmarish for the carmakers. The industry has seen zero sales owing to the national lockdown. Factories and showrooms remained closed because of the pandemic. Therefore, different companies, including Hyundai, have emphasized upon online sales, in order to maintain social distancing. Showrooms and service centers are now following strict hygiene and sanitization regime to fight the COVID-19 outbreak.
The bleak scenario across the auto industry is the same all around the world. In the month of April, there has been a drop of 97% in the UK auto industry. While the US witnessed a dip of 50%. Dealers are not accepting new units, and hence, cars are getting piled up in ships and trains. Europe has also witnessed a drastic drop in demand. The future, too, does not seem promising.