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Chrysler Incentive Plan Caps Gas at $2.99

May 7, 2008

Auburn Hills, Mich. -- Chrysler introduced an incentive plan last week that will cap gas prices at $2.99 a gallon for buyers of most Chrysler, Dodge and Jeep vehicles.

But its biggest rivals - General Motors, Toyota and Ford - said they have no plans to match it.

The company's "Let's Refuel America" plan will cap gas prices for the next three years for people who buy or lease new vehicles through June 2.

Customers will get a card for buying gas that is linked to their own charge account, Chrysler said. The customer will be billed $2.99 per gallon, and Chrysler will pay the rest.

Actual savings depend on what happens to gas prices during the next three years, but based on the average price of $3.61 a gallon in Detroit, someone buying a 2008 Dodge Durango sport utility vehicle with a 5.7-liter V-8 engine would save about $414 per year.

The Durango is one of Chrysler's least fuel-efficient vehicles, getting 13 miles per gallon in the city and 18 on the highway.

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