Hyundai Offers a $1.49 Price Lock on Gas

[jeffrey]

Suddenly gasoline is in the headlines again as attacks on Nigerian oil pipelines and the summer driving season cause energy analysts to predict higher prices at the pump. That could pay dividends for Hyundai. On Tuesday, June 30, the Korean automaker is launching a summer promotion that guarantees buyers of its vehicles one year's worth of gas at $1.49 per gallon.

The gas giveaway comes on top of other offers that have helped Hyundai boost its share of the U.S. auto market from 2.9% to 4.2% so far this year. Earlier this year, Hyundai launched an "Assurance" program that guarantees that buyers can walk away from a new-car loan if they lose their jobs, with no adverse effect on their credit rating. It already offered one of the most generous warranty programs in the industry. Hyundai also bought a series of extremely high-audience TV ad buys, such as the Super Bowl and the first ad spot on CNN after then-President-elect Obama's election night acceptance speech...

Hyundai Offers a $1.49 Price Lock on Gas - BusinessWeek

[poundwise]

You've got to give them credit for pro-active marketing. A jump from 2.9% share to 4.2% share, in a relatively short time-frame, certainly is significant.

With GM and Chrysler floundering and KIA Motors (another non-major brand competitor) vehicles' poor overall performance, Hyundai seems well-positioned to make even further inroads over the next couple of years.