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Hyundai is launching its own scrappage incentive scheme to ensure it doesn’t suffer a significant drop in sales when the government-backed scheme ends.

Hyundai has been second only to Ford in scrappage sales so far having sold more than 33,000 vehicles. Its new scheme, Trade & Upgrade, mirrors the government scheme by offering a £2000 discount off a new car when trading in a car between seven and 10 years old.

Tony Whitehorn, Hyundai UK’s managing director, said: “We have learnt so...Read the full article

So they may as well be admitting why people buy their cars... To paraphrase what one of the other mags said, if Hyundai's are the same prices as the competitors, you have to judge it on the product and then it doesn't stand up so well...

My Mum has a 9 year old Suzuki. If it had been 10 last year it would have been dead and Mum would be in an i10. Looks like it's for the chop now. Shame really, it's a good solid, reliable wee car. I ran it during the snowy weather as my MX5 was impossible to drive and although not the best car I've driven (ok not NEARLY the best) it wasn't that bad.

Have you never read what Autocar say about the i10?

Wow. I've already bought two I20s under the existing scrappage scheme, now I could yet be persuaded to buy a third! Well done to Hyundai for offering its customers quality cars at real value for money prices. Those that disagree have clearly not driven one of the company's more recent models. Incidentally I sold my first I20 for a healthy profit, the second I am currently running. And pretty damn good it is too! Not quite the best car in its sector, but I can't honestly think of anything that offers better value...

And there was I thinking they were doing something at the port.

But seriously, this is a very clever campaign. Keeping your existing customers happy whilst using them to drive new sales ensures that you have a loyal 'fan' base. I'm sure there must be lots (33,000of them) of customers clamouring for their chance to trade up. However, the flip side means that, unless Hyundai guarantee future resale values, then these 1 year-old cars are going to be worthless after a suddenn flood of them on the market. As has been mentioned on this forum countless times, Kia/Hyundai's main battle is to driove prospect sales and increase market share from other manufacturers on their own merits. I hope thier marketing team have a plan in place for sustained sales over the next few years as they cannot carry on living on Government handouts.

It's also interesting to see that the UK team are still learning about their customer base.

Interesting idea with the trade-up from a scappage scheme bought Hyundia to a 10-reg model for £500. Thats got to be worth it for the extra 6-12 months warranty on its own. I presume Hyundia are running low on nearly-new stock for them to be making such an offer? Surely it will have quite an adverse effect on the residuals.

Didn't Daweoo do something similar a few years back just before getting rebranded as Chevrolet? Bring back your 6-month old car and we will give you a new one for free.

J400uk:

Surely it will have quite an adverse effect on the residuals.

 

From an anecdotal perspective (ie most people I've noticed driving them) the majority of Hyundai owners are quite elderly. If my mum is anything to go by (in that she has driven the same car for last 10 years and was not interested in changing but for i10s low purchase price and £2K scrappage on her worthless Suzuzki) the substantial proporetion of the cars in question will be kept by their owners till death us do part or till the owner is no longer fit to drive. In those circumstances residual values are not an issue.

 

 

Good range of deals, I must say. It'll be weird seeing 10 reg cars on the roads soon!

 Toyota are doing it now, and other manufacturers are expected to copy too. Toyota offer until march 31st.

 

In theory if they kept this scheme up forever people could just buy a new Hyundai every 7 years & get a guaranteed £2000 back for their old one, & never get out of warranty! I loathe the idea of disposable motoring myself but I guess that could be very appealing to a lot of people who just want hassle-free A-B transport. (He grudgingly says!)