Australian carmaker GM Holden will move to subsidise fuel prices for its private customers for up to two years.
The company said today new Holden buyers before October 31 would have petrol or diesel prices capped at 99 ($NZ1.22) cents a litre for 20,000 kilometres or two years, whichever came first.
The company would pick up the bill between the cap price and the retail price over that period.
Holden's executive director of sales and marketing Alan Batey said the fuel price cap would ease the pain of petrol and diesel prices.
"We will provide this cap across all segments to ensure the benefits are as widely available as possible, given that fuel prices impact all drivers regardless of the size of their car," Mr Batey said.
New Holden customers will be given a Holden 99c fuel cap debit card to purchase fuel for up to 20,000 kilometres.
In most cases, within 48 hours of a fuel purchase the customer's nominated bank account will be debited to the value of 99c a litre purchased.
