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May 2008
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Chrysler announces plan to cap gas prices at $2.99/gallon

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.

Thinking about buying a Chrysler?  Check them out here.

3 comments on “Chrysler announces plan to cap gas prices at $2.99/gallon

  1. Now that is pretty creative and catchy advertising campaign. Let’s see if it works to increase their sales.

  2. chiro says:

    It only gives you up to 12,000 miles/year. So let’s do the math. If you purchase 30mpg car, you can use get 400 gallons @ price $2.99. That is about $1200. let’s say price goes up to $4.00/gal. that is $400 in saving a year at max. People who does not drive that much will get less. You drive 5 years, and you save $2000. and who knows, if the price/gal goes below $3.00 then you will not be using the card. This promo might do well in California, Hawaii where gas price are always higher than rest of the country. But we will see what happens.

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