Just like Chrysler did when gas prices were out of control, Hyundai has announced a new incentive called Assurance Gas Lock, which locks in gas prices for buyers of new Hyundai vehicles at $1.49 per gallon for up to a year. With gas prices expected to be over $3 a gallon this summer, Hyundai is hoping this new incentive will bring in more buyers.
"Our research shows that nearly 40 percent of potential new car buyers are staying out of the market specifically due to uncertainty around future gas prices," said John Krafcik, CEO and president of Hyundai Motor America. "With Assurance Gas Lock, we're empowering consumers with gas price stability so they can make a confident vehicle choice. And for those buyers out there driving older gas-guzzlers that qualify for the new government CARS program, we think our fuel-efficient lineup of award-winning vehicles, combined with Assurance Gas Lock, makes Hyundai an unbeatable combination."
The program compliments Hyundai Assurance and its 10-year warranty. In addition it is available with special rebate and financing options on individual models.
Assurance Gas Lock is available on Accent (excluding base model), Tiburon, Elantra, Elantra Touring, Entourage, Sonata, Azera, Santa Fe, Tucson and Veracruz models purchased or leased between July 1 and August 31, 2009 . The program reduces any available rebates by $1,000.