The United States government is reported to be investigating at least 20 automotive dealerships that have allegedly violated the rules of last year’s Cash for Clunkers program. Auditors say that up to $94 million in rebates may ineligible due to the lack of proper documentation provided by the dealer. The National Highway Traffic Safety Administration, [...]
According to an analysis by Maritz Research, an automotive market research company, Cash for Clunkers was far more successful than previously estimated. Government records indicate a total of 677,000 vehicles moved under the program, and Maritz says that 542,000 of those sales were to consumers who would not have purchased but not for the program. [...]
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 [...]
Ranking Senate Finance Committee member and Republican Senator from Iowa Charles Grassley, has asked the DOT for an accounting of the administrative costs for the ‘cash for clunkers’ program. The program was risked out in a very ad-hoc manner, and this causes concern for Grassley. The Dept. has thus far spent $77 million and expects [...]
Of the 690,000 new vehicles sold under the Cash-for-Clunkers program last summer, 565,000 were vehicles that would have otherwise been sold regardless of the program, Edmunds said in an analysis of the program released on Wednesday. Auto sales did contribute heavily however, to the expansion of the economy, as CNN reports that they added 1.7 [...]
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 [...]
