GM Holden to subsidize fuel costs for new car buyers

Australian carmaker GM Holden will move to subsidize fuel prices for its private customers for up to two years, to encourage sales of its larger sedans. The company said new Holden buyers before the end of October would have petrol or diesel prices capped at A$0.99 (US$0.79) a liter for 20,000 kilometers or two years, whichever came first. Alan Batey, Holden’s executive director of sales and marketing, said the fuel price cap would ease the pain of rising petrol and diesel fuel prices. (September 2, 2008)