• by Karl Greenberg , June 30, 2009

Last year, Chrysler offered "Let's Refuel America" when gasoline prices were heading above $3 a gallon. Chrysler's offer dangled a special credit card giving buyers of new Dodge, Chrysler and Jeep vehicles up to three years of gasoline at $2.99 a gallon.

Now, with gasoline prices heating up for the summer driving season, Hyundai is launching its take on gasoline discounts with new-vehicle purchase. The "Assurance Gas Lock" program locks in $1.49 per gallon for a year on most Hyundai models leased or purchased between July 1 and the end of August.

Chris Perry, director of marketing communications at Hyundai, tells Marketing Daily: "We did research this year to learn what concerns people have now with car purchases. One was their employment and if they are going to continue to maintain a job. But 40% said they were standing on the sidelines because they know this is the time of year when gas prices fluctuate the most, so we felt this is the perfect time to do this."

The company today launches the program with an integrated ad campaign that includes a pair of TV spots, plus print and interactive elements. The TV spots show a Hyundai car tooling along the highway followed by a gasoline tanker, while a voiceover reinforces the idea that the offer is not so much an incentive as a service in tough times.

To sign up for Hyundai Assurance Gas Lock, new Hyundai owners have to register with a credit card at hyundai.pricelock.com. Then the consumer gets a "Hyundai Assurance"-branded card to be used for all future fill-ups. The consumer is billed $1.49 per gallon of regular-grade gasoline, regardless of the price at the pump, and Hyundai pays the rest.

Consumers are eligible to purchase a maximum number of gallons equal to 12,000 miles divided by the EPA combined fuel economy rating for the qualifying model.

Hyundai is offering the Assurance Gas Lock on vehicles that are also eligible for $3,500 to $4,500 in government CARS (Consumer Assistance to Recycle and Save). Consumers can either accept the full rebate offered by CARS or choose the Hyundai Assurance Gas Lock promotion, reducing the rebate by $1,000.

The Hyundai Assurance Gas Lock program is being overseen by Redwood City, Calif.-based Pricelock.

Perry added that Hyundai wanted to significantly undercut current and future gas prices. "We felt that to make it motivating and really to capture attention, we would need to do that. Gasoline prices haven't been at $1.49 for years. And nobody thinks it will get close to that again."