Interesting. Esp for those who are planning to buy a vehicle.
**Buyers rate Hyundai as high-quality**
Comeback automaker Hyundai has scored big in yet another survey, this one measuring which vehicle brand provides the best value according to owners.
Hyundai, a budget brand from South Korea, came in second only to Toyota’s ™ luxury brand, Lexus, in the survey, released Monday.
Strategic Vision, an automotive consulting firm, asked 74,000 owners to rate the overall value of their new cars and trucks based on price paid, affordability, expected reliability and resale value.
Lexus owners view their vehicles as a good value when comparing features, technology and pricing to other luxury brands, such as BMW and Mercedes-Benz, says Daniel Gorrell, vice president of automotive practice for Strategic Vision.
Hyundai scored well because the brand’s vehicle quality has improved, its models have a long warranty and they are affordable.
In the late '90s, Hyundai’s image suffered as engines and electrical systems failed and rust showed up. Dealers began abandoning franchises. “Not very long ago, they were the butt of jokes,” Gorrell says.
Hyundai began to turn around when it started to focus on quality as it redesigned products and backed the new vehicles with an aggressive, 10-year warranty, says Robert Cosmai, head of Hyundai Motor America.
Over the past year, Hyundai has scored well in several automotive studies, including the J.D. Power Initial Quality Study, which measures problems owners reported in the first 90 days. It also won recommended buy ratings from Consumer Reports magazine this year for the Santa Fe sport-utility vehicle, Sonata compact sedan and XG350 midsize sedan.
Except for luxury brands Cadillac and Volvo, nameplates from domestic automakers General Motors (GM), Ford (F) Motor and Chrysler Group (DCX) are missing from the top 10 best value list.
Big rebates and low-cost financing have made the Big Three’s cars affordable, but buyers think the incentives merely price them where they should be, Gorrell says. “Incentives are not equating with value for the domestics.”
He says the domestic brands need a “product renaissance” similar to Hyundai’s. “Then they will have to rebuild the trust they have lost. This will be tough.”
Besides Lexus, the Toyota brand scored well with its trucks but not as well with its cars. Much of the problems with Camry and Corolla are that they are older designs that lack features found in newer models, Gorrell says.
Even so, Toyota’s Prius hybrid scored as the best value vehicle overall. And Toyota’s new youth-oriented brand, Scion, tied with Mercedes-Benz as the No. 3 best valued band.
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For a complete list of winners by category click here](http://www.usatoday.com/money/autos/2004-10-04-car-value-category-winners-chart.htm).
Top brands based on 74,000 car owners’ feelings about price, affordability, expected reliability and expected resale value:
- Lexus
- Hyundai
- Mercedes-Benz & Scion
- Infiniti
- Acura, Cadillac, Honda
- BMW
- Audi & Volvo