Hyundai Canada asks: Is Luxury A Dirty Word?

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Automaker's Consumer Gauge addresses the need to redefine luxury with new "modern premium" philosophy

MARKHAM (CNW) - Seventy-eight per cent of Canadians feel getting the features they want in a product is more important than the brand they buy, according to Hyundai Canada's new Consumer Gauge, released today. In light of the global economic changes over the past five years, the national survey reveals consumer confidence has shifted and traditional 'luxury' is now low in the list. In fact, one in four Canadians admit their definition of luxury has changed since the 2008 global financial crisis.

As part of an ongoing commitment to further understand the Canadian consumer, the auto manufacturer partnered with Millward Brown to find out what really matters to Canadians when making a large purchase. The Consumer Gauge reveals luxury is no longer a relevant part of consumers' lives, and has potentially become a dirty word. Hyundai's newest philosophy - modern premium - addresses that very statement.

"Democratizing high-end features and making them accessible is the essence of the Hyundai brand," said Steve Kelleher, President and CEO, Hyundai Auto Canada Corp. "We're determined to redefine luxury by offering customers key features they want without the steep price tag. The Consumer Gauge allows us to gain further insight into consumer preferences so we can better tailor our offering to suit their needs."

The study goes on to reveal that 66 per cent of Canadians prefer to buy modern brands that combine luxury at a fair price and more than 50 per cent of Canadians have no intentions of buying a luxury item in the next 12 months. Hyundai's modern premium standard represents these purchasing preferences. That means, getting quality features at an affordable price. Where brand name products used to indicate status and envy, they now reflect indulgence.

"Canadians are increasingly looking for value and personal gain from the products or services they buy," continues Kelleher. "The importance of the small things cannot be overlooked. Getting premium quality features at an accessible price is now the name of the game."


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