Hyundai Exec: Gas Tax Would Ease Buyer Uncertainty

By: Associated Press Email
By: Associated Press Email

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Monday, June 22, 2009

Hyundai's top U.S. executive says consumers are skittish about the direction of gas prices and a flexible gas tax is needed to keep pump prices stable.

John Krafcik (KRAF'-chik) says one of the biggest factors holding consumers back from buying a new car has been uncertainty over the direction of gas prices. They can't decide whether they'll be better off with a spacious but thirsty SUV or a smaller but less roomy gas-sipper. So they're staying out of the market.

Krafcik said Monday in an interview with The Associated Press that a tax that would keep the price of gas stable — rather than fluctuating with the fuel's base price — would ease that uncertainty.

Fuel prices have been rising steadily in recent months but are still well below their all-time high above $4 a gallon last summer.

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