After facing pressure from Congress and the U.S. automotive industry, Japan today opened its version of Cash for Clunkers to U.S. branded vehicles. The Japanese Embassy defended its program as nondiscriminatory but said that it agrees to allow Detroit’s Big Three to take part. “More details regarding how to apply for the subsidy will be decided [...]
Just because you missed out on Cash-for-Clunkers, that doesn’t mean that you can’t get any government cash of your car. tax credits and deductions can still be claimed on new cars purchased before December 31 according to the Associated Press. Though the cash reward is hardly comparable to that of the ‘Clunkers” program, but it [...]
The U.S. Transportation Department said today that it has approved all “eligible and complete” Cash for Clunkers claims from dealers. Secretary Ray LaHood said that leaves only 2 percent of all applications for dealers to resubmit. LaHood said that department employees will help dealers correct and re-file improperly submitted claims, reports Automotive News. A total [...]
A recent cars.com survey of 1,056 recent or soon-to-be car buyers shows that the majority would like to see cash-for-clunkers extended. Of the surveyed group, 42% indicated that they thought the program was a successful one despite the fact that only 10% of those surveyed actually participated. Of those participants, 37% said they were originally [...]
The Cash for Clunkers government incentive program was designed to replace gas-guzzling models with more fuel-efficient cars and while it did just that, it also helped boost sales of some pickups and SUVs. According to data released by the Department of Transportation, tens of thousands of trucks, minivans and SUVs were among the nearly 700,000 [...]
President Barack Obama’s administration has paid a total of $2.5 billion of the $2.9 billion claimed by dealers during the Cash for Clunkers incentive and his hoping to pay the rest by the end of the month. “All dealers will be paid by or before the end of September, probably before,” Transportation Secretary Ray LaHood [...]
The U.S. Transportation Department said yesterday that it has paid more than a third of vouchers they gave consumers under the Cash for Clunkers program. As of yesterday morning, the U.S. government has paid a total of $1.22 billion for 289,000 vouchers. That totals 42.4 percent of the $2.88 billion applied for by dealers under [...]
A government official told the press that the Obama administration expects to take until the end of the month to pay claims made under the Cash for Clunkers program. “We plan to pay all eligible and complete dealer submissions by September 30,” a Transportation Department official said. While the agency didn’t release and official figures [...]
While cash-for-clunkers gave great rebates to those who qualified, consumers are going to be feeling the economic pinch in the months to come. The program has depleted inventories, and during a time when car shopping is usually at its peak, the short supply will cause a price surge, many analysts believe. While the program was [...]
Cash-for-clunkers has triggered what the White House says could be the biggest two-month spike in auto sales on record. A preliminary analysis submitted to Congress puts GDP estimates at 0.3 to 0.4 percentage points higher at annual rate when compared to what it would have been without the program, reports Automotive News. This increase “will [...]
