FOUNTAIN VALLEY, Calif., Feb. 8 /PRNewswire/ -- Hyundai's completely redesigned 2011 Sonata that delivers best-in-class fuel economy and 200 horsepower is setting the standard for residual values as well. Right out of the box, the Hyundai Sonata GLS with automatic transmission received an impressive 36-month residual value of 54 percent of manufacturer's suggested retail price (MSRP) from Automotive Lease Guide (ALG), the industry benchmark for residual values and a leading provider of data and consulting services to the automotive industry. The residual value topped popular competitive 2010 models from Toyota, Nissan, Ford, and Chevrolet, in addition to premium brands such as Lexus, BMW and Mercedes.
This represents the lowest depreciation in the midsize car segment. The 2011 Sonata even outperforms Honda, depreciating $640 over a three-year period less than a comparably-equipped 2010 model year Accord. Strong residuals add to Sonata's value equation, indicating higher trade-in value for buyers and lower monthly payment for lessees.
The new 2011 Sonata, built at Hyundai Motor Manufacturing Alabama, has attributes which set a new standard in the midsize car category, such as a best-in-class 35 mpg highway fuel economy rating thanks to a new 2.4-liter Gasoline Direct Injection (GDI) four-cylinder engine, new six-speed manual and automatic transmissions and highly refined aerodynamics. A well-equipped 2.4-liter GDI I4 GLS model, offering 198 horsepower and six-speed manual transmission begins at $19,195. A fully-equipped Sonata Limited with a navigation package and six-speed automatic transmission is $27,395.
The 2011 Sonata represents a modern approach to the traditional midsize sedan segment using advanced four-cylinder engines, emotional design and luxury features, all combined with Hyundai's strong value proposition. Sonata brings advancements like HD Radio Technology™ with Multicasting and standard Bluetooth connectivity to the segment for the first time ever.
"Hyundai's model lineup continues to evolve and the completely redesigned 2011 Sonata punctuates the tremendous evolution in Hyundai performance, design, safety and quality," said Troy Saito, manager of pricing management, Hyundai Motor America. "Strong residual value has become another element in Hyundai's overall value equation, reducing the overall cost of ownership and allowing us to offer strong lease options to our customers."
Hyundai's world-class quality has significantly improved the brand's residual values over the past few years. Hyundai's premium models are driving the improvement according to data released in ALG's January/February edition. The 2010 Genesis sedan achieves 47.5 percent retention of MSRP, the all-new Genesis Coupe achieves an outstanding 52.3 percent and the 2010 Veracruz retains 49 percent of its value over a 36-month period. The fuel-efficient 2010 Hyundai Elantra is also a star for the Hyundai lineup, retaining 48.3 percent of its value over a three-year period and the all-new Hyundai Tucson retained 50.6 percent of MSRP.
Sonata is the second vehicle in Hyundai's 24/7 version 2.0 product initiative (seven new models in the next 24 months) following on the heels of the all-new Tucson. The all-new Sonata is available now at dealerships across the country.
About ALG (www.alg.com)
Based in Santa Barbara, California, ALG is the industry benchmark for residual values and a leading provider of data and consulting services to the automotive industry. ALG publishes the "Automotive Lease Guide" -- the standard for Residual Value projections in North America, and has been forecasting automotive residual values for over 40 years in both the U.S. and Canadian markets. ALG is a company of Dealer Track Holdings, Inc. (Nasdaq: TRAK).
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through almost 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program which now includes the 5-year/60,000-mile fully transferable bumper-to-bumper warranty, Hyundai's 10-year/100,000-mile powertrain warranty and 5-year complimentary Roadside Assistance in addition to the highly acclaimed vehicle return policy introduced in early 2009. For more details on Hyundai Assurance, please visit www.HyundaiAssurance.com.
SOURCE Hyundai Motor America