Hyundai to guarantee new-car trade-in price

4/21/2011

NEW YORK — Hyundai Motor Co. said Wednesday it will guarantee the trade-in price of new cars sold in the United States starting May 1.

Analysts said it’s the first time an auto company has made such a guarantee.

The company will guarantee the value of a car that’s traded in after two, three, or four years. The automaker surprised the industry in 1999 with a 10-year, 100,000-mile warranty.