Home

Car Allowance Rebate System

Cash for Clunkers Boosts Q3 GDP Growth

Wed, 12/23/2009 - 13:27 by Ishita Sood

The third quarter GDP result is out, and even though figures are not that impressive, they are definitely positive compared to the previous four negative quarters.

GDP growth in the third quarter stands at 2.2 percent, to which the maximum contribution came from the Cash for Clunkers program.

Also known as the Car Allowance Rebate System, the Cash for Clunkers is a $3 billion federal program given to the U.S. residents for purchase of new and efficient vehicles.

Senate reviews 'Cash for Clunkers' program

Tue, 08/04/2009 - 19:48 by Inderjit Singh

Washington -- The "Cash for Clunkers" program appeared stalled Tuesday as the U.S. Senate contemplated whether or not to approve a $2 billion extension of the program.

Officially titled the Car Allowance Rebate System (CARS), the program offers rebates of up to $4,500 for vehicle trade-ins used to purchase new cars with improved fuel efficiency.

Before it adjourned, the House approved a $2 billion expansion of the program that ran through its $1 billion budget in the first week.

Democratic senators seized on a Department of Transportation report that the first 120,000 applications were for cars rated at 28.3 miles per gallon, The New York Times reported Tuesday.

Auto industry may change gears with the cash for clunkers program

Sat, 07/25/2009 - 17:12 by Jamie Anderson

Washington, July 25: The Car Allowance Rebate System program, under which the U.S government intends to run the cash for clunkers program, was signed into a law in the June of 2009. However, the details of the program were not divulged till about a couple of days back.