Chrysler LLC Chairman and Executive Bob Nardelli said Monday the company proposed a way of capping the price of a gallon of gas at $2.99 for customers who purchase or lease a new Chrysler vehicle. The proposed cap would be in effect for 3 years and be based on an average of 12,000 driving miles per year. The consumer would receive a gas card linked to their own credit card which would bill the customer the initial $2.99/gallon while Chrysler would pay the rest. (The current average for a gallon of gas is $3.61. Although I’m certain while I was writing this, the price went up.)
Chrysler is doing everything it can in a market that does not favor the automaker. Amid challenging financials, Chrysler announced in November their plan to cut 11,000 jobs. While Nardelli said they are on track to hit those goals, the propposed gas cap is certainly beneficial to increasing revenue. In a time where consumers are making dramatic decisions based solely on the price of gasoline, any attempt to ease this strain is certain to be well received.
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