By THEODORE OPARA
Three Hyundai models – Elantra, Sonata and Equus – each took first place in their respective categories in the 16th annual Strategic Vision Total Value Awards. Elantra, Sonata scored top marks for medium cars, and the Equus beat out competitors like BMW and Mercedes to take first place in the luxury car segment.
Additionally, Equus received the award for Best Model, and Hyundai ranked second overall in Total Value. Strategic Vision’s Total Value Index (TVI) reflects all aspects of perceived value; from quality, to economics to customer appeal.
Of the more than 350 new cars to compete for honors in their respective categories, Hyundai was recognized for its innovation in design and technology, value for money, and increase in overall quality.
Strategic Vision is a research-based consultancy with more than 35 years of experience in understanding consumer decision-making processes for a variety of Fortune 100 clients, including most automotive manufacturers.
“Hyundai has increased its Innovation Factor Score (IFS) by 20 points since 2008,” said Alexander Edwards, president, Strategic Vision. “Today, Hyundai’s like Elantra, Sonata, and Equus have some of the highest Total Value scores in the entire automotive industry.”
Total Value Scores are calculated by assessing two factors: Customer assessment of initial value, and customer evaluation of the complete ownership experience. Initial value was judged on total price paid by the consumer, manufacturer warranty coverage, expected trade-in value, expected affordability, expected durability, and expected operating costs.
Innovation Factor Scores were also calculated for final judging, and reflect each car’s use of engaging, impactful, and innovative technologies.
“Our 2013 lineup showcases Hyundai’s philosophy behind building cars,” said Mike O’Brien, vice president, Product and Corporate Planning, Hyundai Motor America. “We provide our customers with engaging, efficient vehicles packed with fun and functional technologies. We’ve bred this philosophy into our entire range of cars, and receiving awards in three different categories reflects our hard work and commitment to customer satisfaction and value.”