Seeing as the auto bailout is a hot topic these days, I just wanted to pop in and share a little bit of new information with you all regarding some newly transpiring events in the auto industry. Hyundai’s recent actions have stimulated other companies to copy them, hit the jump for more.

It is said that imitation is the sincerest form of flattery, and for the most part I believe this to be true. In these dire economic times however, imitation seems to be the sincerest form of saving your own ass. Hyundai recently pioneered their Hyundai Assurance Program to assist people who recently lost their jobs by covering car payments until they could find employment again (read that original post here). Likewise, GM and Ford are following suit by introducing similar programs in the near future according to the Associated Press. Ford said today that it would introduce a program for people who have recently lost their jobs due to layoffs and cover payments of up to $700 dollars for up to 1 year on any new Ford vehicle. Eligibility for the program is set by qualifying for state unemployment. GM said today that it will implement a similar assistance program for payments up to $500 dollars and cover up to nine car payments. The Ford program runs from now until June 1, with GM’s lasting only for the entire month of April.

I must give a hand to Hyundai for the initiative they took in instituting this new program as it has appeared to be paving a path for other companies to follow. The success of the Assurance Program is evident as Hyundai’s sales for this last month are only down 2% in a time when other companies are experiencing losses in the double digits. The company appears to be on the right track in the way they are operating and with such innovative new models as the Genesis and Genesis Coupe I only see good things for them.