May 19, 2008
Chrysler Extends Gas Guarantee Program to July 7
AUBURN HILLS, Mich. --- Chrysler LLC today extended to July 7 the Let's Refuel America $2.99 gas guarantee program, which offers customers the opportunity to lock in their gasoline purchases at $2.99 a gallon for three years, up to 36,000 miles.
The program was launched on May 7 for the month of May only, but extended for a second month in response to dealer and customer demand for additional time.
Even before the full impact of the national and local advertising has been realized, the Let's Refuel America program already has created a high level of word-of-mouth consumer awareness, with increased traffic coming into Chrysler's 3,511 dealerships and onto its Web sites. After one week, Chrysler's Web site activity is up 25 percent versus the previous week, with internet leads increasing by 34 percent.
"Customers and dealers across America have told us they like the gas guarantee incentive option, so we are providing a second month for shoppers to take advantage of it," said Jim Press, Chrysler LLC vice chairman and president.
Through July 7, Let's Refuel America is available on virtually all Chrysler, Jeep and Dodge compact vehicles, SUVs, sedans, minivans, and pickup trucks, including its five vehicles that get 28 mpg on the highway for an MSRP under $20,000. Not included in the program are the company's high-performance vehicles such as the Dodge Viper, Dodge Challenger, Chrysler Crossfire, and the entire SRT lineup as well as the Dodge Sprinter, Dodge Ram Chassis Cab and Jeep Wrangler.
Customers who purchase or lease an eligible Chrysler, Jeep or Dodge vehicle have a choice of one of three incentive packages of similar value: Cash back; 0 percent financing (for eligible customers); or the gas guarantee program, which on some vehicles also includes up to $3,000 additional cash back.
"What our customers and dealers like best about this program is the flexibility of three incentive options, each with a unique benefit," Press said. "Some customers need cash back immediately for a down payment; others don't like paying high interest rates; and many are tired of worrying about rising gas prices and want to be protected. We are pleased to offer every customer a choice of what's best for their individual situation."
Customers who select the Let's Refuel America $2.99 gas guarantee program will receive a gas card (linked back to their own Visa or MasterCard) that is valid at 97 percent of gas stations in the United States. Purchases at the gas stations will be for the full price being charged that day, but only $2.99 per gallon will be billed back to the customers' credit card. Chrysler picks up the rest, regardless of how high gas prices rise.
After the May 7 launch of Let's Refuel America and before the full impact of the advertising has been realized, the highest take rates have been on the new Dodge Journey crossover, Dodge Caliber, Dodge Avenger and Chrysler Sebring sedan.
"The most incremental incentives in this gas program are on the company's most fuel-efficient vehicles, which typically do not have this level of incentive available," Press said. "Our customers who buy smaller vehicles put great value on being protected against rising gas prices."
From a geographical perspective, the highest take rates have been in the states of California, Connecticut, Indiana, Ohio, and Washington. These five states are among the 12 highest fuel price states in the country.