Hyundai Aims to Overhaul U.S. Retailing Experience

Hyundai Motor Co. is preparing to revamp the way it sells cars in the U.S. in hopes of making the process faster, simpler and more transparent for customers.

Under the Shopper Assurance program, Hyundai will post fair-market prices for vehicles online, arrange test drives at a location of the shopper’s choice and enable buyers to go online to estimate trade-in value, estimate monthly payments and apply for financing. The company also will back sales of new vehicles with a three-day money-back guarantee.

Hyundai will test the new system later this month in Florida and Texas, then roll it out nationally early next year. The carmaker aims for 85% participation in the voluntary program from its 820 U.S. dealers.

The new approach was inspired by market research that shows saving time is a bigger priority than price for today’s consumers, according to the company.