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GM Buys the Gas for Big Truck Buyers

May 25, 2006

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General Motors is rolling out another sales gimmick, this time trying to lure consumers back to big SUVs and trucks with subsidized gasoline for a year in California and Florida.

The company hopes to boost sales in those important auto markets.

Vehicles eligible for the GM rebate include the 2006 and 2007 Chevrolet Tahoe and Suburban, GMC Yukon and Yukon XL, and the HUMMER H2 and H3.

The auto giant promises to cap the price of gas at $1.99 a gallon for new buyers of some of its 2006 and 2007 vehicles, mostly full-size sport utilities.

The GM credit will be based on a consumer's estimated monthly gasoline consumption.

Consumers would be credited for the difference between the average price per gallon of premium fuel and the $1.99 price, adjusted for the miles they drive, according to GM.

The GM gasoline credit will be applied monthly to a pre-paid credit card that will be valid until the end of 2007 with no limits on mileage.

A California buyer who selects a 2007 Chevrolet Tahoe and drives it 1,000 miles a month would see an estimated $103.75 monthly credit, according to GM. A Floridian who buys a 2006 Buick LaCrosse and drives the same distance would get a monthly credit of about $60, the company said.

GM has repeatedly said it would avoid discounts to boost sales because they cut into profitability and hurt resale values for its cars.

GM's average incentive spending had averaged $3,050 per vehicle through April, below that of Ford and Chrysler.

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