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Thursday, May 8, 2008

ADDITIONAL GAS SUBSIDIES

DETROIT, MI -- Ford Motor Co., General Motors Corp. and Toyota Motor
Corp. have no plans to match Chrysler LLC's offer to subsidize the
cost of gasoline for car and truck buyers, the companies said Tuesday.

Chrysler announced an offer that caps the price of gasoline at $2.99 a
gallon for three years for people who buy or lease new vehicles from
Wednesday through June 2.

The customer will be billed $2.99 a gallon, and Chrysler will pay the
rest. General Motors tried a gas payment promotion two years ago in
Florida and California with little impact on sales, company spokesman
John McDonald said Tuesday.

GM instead is focusing on making vehicles more fuel efficient because
that's what customers are demanding, McDonald said.

Ford spokesman Jim Cain said the company has tried similar programs
regionally but also has decided to focus on more efficient engines and
transmissions and other measures. "We know that fuel economy is
important to consumers," he said. "It'll be important whether gas is
$2.99 a gallon or $4.99 a gallon."
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