It was only last week that General Motors admitted to applying incorrect fuel-economy numbers to several of its new SUVs. The company is going to be held accountable for this and today GM has detailed its compensation plan. It’s going to send out debit cards as compensation, aside from offering customers extended warranties on models affected by this issue.
For affected models that are still in dealerships, the units can’t be sold until the window stickers are replaced with new ones that reflect the true fuel-economy numbers. Customers who have the affected cars in their possession will receive compensation.
GM is going to offer two methods of compensation to more than 135,000 owners in the United States and 11,000 in Canada. The first method is a debit card worth between $450 and $900 while the second is an extended warranty for the affected car that’s going to be valid for 48 months or 60,000 miles, whichever comes first.
It reached this figure by assuming an average annual driving distance of 15,000 miles and taking into account gas prices of $3 per gallon. According to Reuters, providing this compensation is going to cost General Motors somewhere around $100 million. GM itself confirmed that it’s going to send letters to affected customers starting May 25th.
Filed in . Read more about General Motors. Source: reuters