Pricelock, Hyundai Collaborate To Lock Low Fuel Prices
Published:30-June-2009
By Staff Reporter
To implement program that will lock in the fuel price at $1.49/gallon
California-based Pricelock is partnering with Hyundai Motor America to implement a new program that will lock in the price of fuel at $1.49/gallon for one year, for purchasers of select new car models.
Robert Fell, CEO and Founder, Pricelock, said: "This partnership with Hyundai is proof positive that there is a need in the market for fuel-price protection in today's uncertain economy."
"Pricelock is the only company that combines technology and commodities expertise to deliver price protection that can be tailored to the needs of any business' fuel budget. And, as is shown by this program for Hyundai, being able to ease customers' anxiety over rising gas prices is a powerful sales incentive," he added.
For the Hyundai program, Pricelock would issue car buyers fuel cards, which will be used to purchase gasoline at any of the 165,000 participating gas stations in the US. Using the Pricelock card, the car buyer would be charged $1.49 per gallon for fuel, regardless of the price on the pump.
The deal is expected to drive dealership traffic and increase new car sales.
