Hyundai Motor Launches Downtime Loss Compensation Service for Truck Customers
Operation of the "Heavy Truck Business Care" Service
On September 1, Hyundai Motor Company announced that it would launch new support initiatives for truck customers, including a downtime loss compensation service and a vehicle replacement support program, to help ensure stable business operations.
Hyundai Motor Company introduced these customer support measures to alleviate the financial burden on customers that can arise when their vehicles are out of service due to accidents or warranty repairs, and to provide more convenient support throughout the process from selling existing vehicles to purchasing new ones.
The company will offer a downtime loss compensation service, called the ‘Heavy Truck Business Care Program,’ for large truck customers.
The Heavy Truck Business Care Program assists customers with losses incurred during downtime when vehicle operations are suspended due to accidents or warranty repairs.
The eligible models include all large truck series such as Xcient and New Power Truck. Customers who purchase vehicles through Hyundai Commercial standard installment financing are eligible, receiving compensation of 150,000 won per day of downtime, up to a maximum of 5 million won per year.
In addition, Hyundai Motor Company will operate the ‘Trade-In’ program to further reduce the burden of vehicle replacement for customers.
Through collaboration with Hyundai Commercial, the program supports customers by providing a seamless process from selling their existing vehicles to purchasing new ones.
By linking with ‘GoTruck,’ Hyundai Commercial’s used commercial vehicle trading platform, the company will provide free on-site appraisal and guaranteed quotations to affiliated logistics companies, as well as low-interest rate financing benefits for customers who purchase new vehicles.
Moving forward, Hyundai Motor Company plans to sequentially expand collaborations with various used vehicle trading platforms, further enhancing the convenience for mid- and large-sized truck customers when replacing their vehicles.
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A Hyundai Motor Company representative stated, “Because vehicles are critical business assets for commercial vehicle customers, we have introduced these programs to minimize the burden of downtime and support stable business operations. We will continue to introduce diverse customer support programs aimed at reducing total cost of ownership and strengthening our customers’ business competitiveness.”
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