Just about 10 years ago (actually, a check on the InterWeb makes it just over 10 years), Korean automaker Hyundai rolled out what was then a daring (some said "stupid") idea -- a 10-year warranty on its cars, including almost all parts.  At the time, 3-, 5- and maybe 6-years were the best warranties available, and those were only on specific engine parts. 

While some believe this was a move made solely out of desperation (and surely the currency crisis of 1997 had some effect), I always admired it.  In 1998, Hyundai cars in the U.S. were a fairly universal joke, outdone perhaps only by the ill-fated Yugo a few years before, and certainly not helped by their first foray into North America, the Pony.  The rep: small, unreliable cars from some Asian country that wasn't Japan.  One former co-worker of mine even called her little Excel a "rice burner," and they were often used as punch lines by comedians, even showing up as the fall guy in places like David Letterman's Top Ten list (though to be fair, they were even there recently, but for the sake of this post's continuity we'll call that nostalgia).

Even Korean-American actor Sung Kang (who seemingly can't stop playing characters named "Han") disses the "han" country's ride in the Fast and the Furious series of films.  After all, who wants to have a car that's not cool AND can't be trusted?  I mean, cheap is good, sure, but not if it doesn't work.

So, for reasons of financial distress, customer relations or just plain having had enough, Hyundai did what I thought was a brilliant thing -- it removed the number one problem from American consumers' minds.  Worried it won't work -- no problem.  Every inch of it is guaranteed for 10 years.  Anything else?  Okay, then, what color do you want?

Removing the largest barrier to purchase meant that more people were going to try a Hyundai.  And, since the company had "walked the talk" -- namely, ferociously upgrading and improving production quality -- more people had more good experiences with the cars.  And told their friends.  And even caused other automakers to try and follow suit, or at least improve their warranties.

Fast forward ten years -- Hyundai cars are now showing up on other top ten lists -- like top ten cars in their class.  Even on top of these lists sometimes.  There are even Hyundai enthusiasts clubs (yes, I was surprised too).  So, mission accomplished, right?

Yes and no.  Here's where they get to the "brilliant" label.  With the world reeling from daily financial revelations, bail-outs and the rest, Hyundai once again thought "what is the single largest barrier to buying a new car today?" and understood that it was the fear of losing one's job and not being able to pay for it.

So, once again -- no problem.   Hyundai launched its new "Assurance" program during the NFL playoffs (I can vouch for this -- I was watching via NFL.com Sunday morning in my apartment in Seoul) which basically says that if you "lose your income" during the first year of owning your new Hyundai, you can just take it back.  Really. 

Maybe all of this is possible because, unlike U.S. automakers, major Korean coporations have more ability to handle loss leading business strategies.  Maybe it's because they have other affiliates bringing in money.  And maybe it's unfair to directly compare Hyundai to other carmakers for that reason.

But man ... they do really understand their audience.  And know how to appeal to them in a broad, symbolic way.  And that's worth noting.