Hyundai offers $1.49 gas guarantee
Hyundai has announced that customers who buy or lease its vehicles by Aug. 31 will receive a gas card that lets them buy fuel at $1.49 a gallon for a year. Customers can alternately buy mid-grade gas at $1.64 a gallon or premium gas at $1.79 a gallon, Hyundai says. The new incentive is the second attempt this year by the Korean automaker to take pressure off apprehensive and cash-strapped buyers. In January, it launched its "Assurance" program, which offers to take back vehicles under certain conditions from Hyundai customers who lose their jobs.
Is $3 a gallon the new $4 a gallon?
Kelley Blue Book's May survey of in-market new-car shoppers found that 73 percent said they plan to change their spending habits if gas prices go much higher. And more than 60 percent said that rising gas prices have either caused them to change their minds or made them think about vehicles they normally wouldn't have considered. "While we may not see the $5-per-gallon gas experienced in some areas last year, current economic conditions compounded by the pain at the pump may make $3-per-gallon gas a new threshold for car buyers -- the point at which they change their mind about what vehicle to buy and how they spend their money," says Jack R. Nerad, executive market analyst for Kelley Blue Book.