Chrysler Extends, Enhances $2.99 Gas Price Guarantee
By Michelle Krebs July 1, 2008Chrysler announced it will extend its $2.99 gas-price guarantee program through July 31. But that's the end.
The Let's Refuel America, launched this spring and set to expire July 7, will go out with a bang as Chrysler adds cash incentives to the three-year gas-price guarantee on more models. Chrysler also will promote the $2.99 gas guarantee even more heavily than before, including with YouTube testimonials.
"This is for last chancers," said Michael Keegan, Chrysler vice president of volume planning and sales operations, in a conference call with the media late Tuesday.
Chrysler extended and enhanced the program at the request of its dealers. "Dealers wanted us to run it one more month," said Keegan. "The think it is attractive for people still looking for a terrific deal on the price of a gallon of fuel."
In fact, Keegan notes, the gas-price guarantee is an even more attractive deal than when Chrysler launched it in May because of rising gas prices, which were an average of $3.69 compared with $4.08 on Tuesday. "The price of fuel has gone up 13 percent since we launched Let's Refuel America," he said.
Keegan said Chrysler will add to the $2.99 gas-price guarantee $1,000 cash rebates on the Chrysler Aspen, the Dodge Durango and the Jeep Grand Cherokee and Commander. Already, Chrysler has been paying cash rebates in addition to providing the gas-price guarantee on 17 models. The Dodge Ram, for instance, has a $3,000 rebate as well as the $2.99 gas guarantee; the Chrysler PT Cruiser has a $1,000 rebate on top of the gas-price guarantee.
Keegan said Chrysler will launch a "countdown" advertising campaign that will heavily promote Let's Refuel America the weeks of July 7 and July 14. The campaign will include YouTube testimonials by buyers of Chrysler models who have already taken advantage of the gas-price guarantee.
Despite reporting sales off 30 percent in June compared with a year ago, Chrysler claims the gas program has been a success. Most customers taking advantage of the gas-price guarantee have been buyers of the Chrysler Sebring Sedan and Dodge Caliber, Journey and Avenger.
"Contrary to what some have said that this promotes gas guzzlers, the biggest take rate has been on four-cylinder vehicles," he said. It has been most popular in Michigan, New York, California, Pennsylvania and Ohio, Keegan added.
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