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A Ball State University researcher who analyzed the federal government's Cash for Clunkers program says it fueled a spike in auto sales over the summer.
Billed as a way for the government to put more fuel-efficient vehicles on highways, the popular $3 billion Cash for Clunkers program mostly involved swaps of old Ford or Chevrolet pickups for new ones that got only marginally better gas mileage, according to an analysis of new federal data by The Associated Press.
Trade-ins from the Cash for Clunkers program are piling up and auto recyclers are seeking more time to meet the deadline for disposing of all those vehicles.
Pickup trucks and sport utility vehicles were big sellers under the Cash for Clunkers program despite the federal government's focus on replacing gas guzzlers with more fuel-efficient cars.
As Gene Butman Ford opened its doors Saturday, salesmen outnumbered the shoppers looking at a depleted stock of cars and trucks, and it didn't appear that many customers were ready to buy.
The popular Cash for Clunkers program generated nearly 700,000 new car sales during the past month, giving the U.S. auto industry a badly needed jolt of activity during the deepest decline in auto sales in two decades.
Now comes the hard part for the auto industry — luring customers without big Cash for Clunkers discounts.
The Transportation Department is assuring auto dealers they will get time to submit their pending Cash for Clunkers deals, as continued problems with the government's Web site make it difficult for dealers to file for repayment under the popular $3 billion government rebate program.
Mazda North American Operations said Friday that it will issue $20 million in advance payments to its dealers to help tide them over until they receive reimbursements through the government's Cash for Clunkers program.
It was a race to the finish for dealers and customers alike as the government's Cash for Clunkers program headed into its final lap on Monday.
Auto dealers are bracing for a possible rush of last-minute shoppers before the Cash for Clunkers program ends Monday, but some buyers may find they won't be able to cash in on big government rebates.
Auto dealers have made 489,269 sales under the government's $3 billion Cash for Clunkers rebate program, according to data released Friday by the Department of Transportation. The total value of the rebates claimed by dealers stood at $2 billion.
Expiring Monday, the Cash for Clunkers program encouraged more than a half-million Americans to dump their gas guzzlers for new cars and provided a much-needed, short-term boost to the economy.
Auto dealers reported 690,114 sales under the federal government's $3 billion Cash for Clunkers rebate program, according to final data released Wednesday by the Department of Transportation. The total value of the rebates claimed by dealers totalled $2.88 billion.
Authorities say a Phoenix man accused of using the Cash for Clunkers program to ditch his BMW after a fatal hit-and-run crash has been indicted on a manslaughter charge.
Hundreds of auto dealers in the New York area have withdrawn from the government's Cash for Clunkers program, citing delays in getting reimbursed by the government, a dealership group said Wednesday.
The government is giving cash for clunkers. It isn't sending flowers.
Car shoppers have until Monday night to take advantage of lucrative Cash for Clunkers rebates from the government, and the Obama administration is hoping for a smooth ending to a program that has spurred auto sales but created headaches for many auto dealers.
WASHINGTON — Auto dealers say they still haven't been repaid for the majority of Cash for Clunkers deals they have made, creating cash crunches for many as they wait for the government to reimburse them under the popular $3 billion vehicle trade-in program.
Car shoppers running into shortages of certain vehicles at dealerships will still be able to use the Cash for Clunkers program to reserve the car of their choice, the Obama administration said Thursday.
Consumer advocacy groups are calling on the Department of Transportation to crack down on dealerships offering questionable sales terms to customers participating in the government's Cash for Clunkers program.
With Cash for Clunkers rolling on after the program was extended, new car dealers are smiling, but left out are companies and organizations whose business models are built on used vehicles.
Transportation Secretary Ray LaHood, the nation's top car salesman in recent weeks, has cited the Obama administration's best-seller list of mostly smaller, fuel-saving cars like the Ford Focus to describe the success of the Cash for Clunkers rebate program.
After a lot of heartbreak, the nation's automakers aren't looking to commit.
You should get rid of your fridge and freezer, and get 50-100 bucks if you buy respective new energy saving devices. It's clear and sadly enough true that your beloved car or appliance gives up working after a couple of years.
To hear the shouts of the masses about the performance of our President, it would be easy to miss that he is just over an eighth into his first term.
Chrysler, GM see drop in sales"Cash for clunkers" was a party for U.S. auto sales in August, but the hangover began before the month had ended, analysts said.
Toyota Reports August Sales / ToyotaThe Toyota Division posted August sales of 202,196 units, an increase of 15.2 percent over the same period last year. The Lexus Division reported August sales of 22,892 units, a decrease of 18.8 percent from the year-ago month.
Americans Outraged at Sudden Realization Interstate Highways Are Government-RunAs the debate continues to rage on over whether or not the U.S.
Hypothetically, let's say you have a neighbor named Juan T Moore (the hispanic first name is not meant to insult any race, but merely makes the name sound like "Want More"). Juan is a good person, He works hard and makes an OK living. He has a wife and 3 children.
Japanese, Koreans gain most from cash for clunkersOverseas manufacturers dominate in car sales, while U.S. companies have been stronger in the light truck segment. Cars outsold trucks 2-1 under the "clunker" initiative.
Last-Minute Clunkers Traders May Be Too LateATLANTA — Although the Cash for Clunkers vehicle trade-in program officially ends on Monday, it became clear on Friday that car buyers who wait that long may be disappointed.
What I got with Cash for ClunkersTake a peek at the heaps (no offense) these 6 turned in -- or tried to turn in -- to get their Cash for Clunkers deal. ********************
Cash for Clunkers heading to junk yardDealers are pulling out of the program due to worries about repayments and limited availability of fuel efficient cars. But customers are losing interest as well.
NY dealers pull out of clunkers program. Another well run government programNEW YORK (AP) - A New York dealership group says hundreds of its members have left the Cash for Clunkers program, citing delays in getting reimbursed by the government.
Cash for Clunkers leading to sales crash for used lotsWhile the clunkers program helped push sales of new cars in July to the highest level in nearly a year, sales of used cars have taken a beating.
Clunkers Program Clears Out Car LotsCar buyers flocking to trade in their clunkers have stripped dealerships of inventory over the past two weeks, giving automakers a signal they have eagerly awaited: It's time to make more cars.
Read the Fine Print Before You Hit Submit!We see them all the time when installing software, EULA's. End user license agreements. Typically, standard boiler plate, yada.... yada... Click OK to agree. OK or cancel. We all hit OK, right, because otherwise we can't access the site or software.
Republicans' Fierce Urgency of No How horrible it must be for the GOP so-called leadership -- John Boehner, Mitch McConnell, and Eric Cantor -- who must now be feeling some anguish from their commitment to say No to everything in Obama's platform to help our country and ordinary American citizens.
Clunkers Not So Stimulating Ultimately, even if CARS helps boost near-term economic numbers, the automotive sector -- about 2% of overall output -- is simply too small to counter the wider effects of America's housing led bubble-burst.
Cash for clunkers is - is it a good ideaThink of "cash for clunkers" as a sort of bizarro twin of that "bucks for banks" program from last autumn. You know, the one where Congress authorized $700 billion to keep financial clunkers on Wall Street up and running.
Dealers Race to Get Their Clunkers CrushedUpdate below. The White House and Congress may be giving the "cash for clunkers" program a reprieve, but one can't help wondering how many dealers and customers will have the confidence to go forward at this point. Things sound like a total mess in the showrooms.
House Adds $2 Billion to Car-Rebate ProgramWASHINGTON — As problems go in the nation's capital these days, the White House could live with this one.
White House Says Car-Rebate Plan Will Go OnThe White House said Friday that the "cash for clunkers" program was still alive even though new-car shoppers appear to have already snapped up all the $1 billion that Congress had appropriated for it.
"Clunkers" Auto Rebate Plan So Popular That It's BrokeAfter an unanticipated level of response from car shoppers seeking new auto discounts under the "cash for clunkers" program, the government was reported Thursday evening to have exhausted the funds available, leaving unclear whether further applications would be accepted.
Feds to suspend 'Cash for Clunkers'After less than a week in operation, the "Cash for Clunkers" government rebate program is being suspended, the Detroit Free Press reports.
CONSUMER ALERT: Cash for Clunkers ScamsTexans should exercise caution towards any Web sites offering registration for the federal government's "Cash for Clunkers" program. Eligible vehicle owners do not need to register or provide personal information in order to participate in the program.
'Cash for clunkers' rules are released, sparking a rush The federal government finally released the rules that dealers and their customers have to follow to participate in the much-discussed "cash for clunkers" program, which can provide consumers with up to $4,500 in cash when they trade in an older vehicle and buy a newer, more fuel …
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