Cash for clunkers

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. Ishita Sood's blog Comments Read more	Analysts point to a 'clunker' bubble Thu, 09/03/2009 - 21:38 by Inderjit Singh New York -- U.S. market analysts said the "cash for clunkers" rebate program may have created a temporary bubble in the automobile market. Alec Gutierrez, senior market analyst at Kelley Blue Book, said auto dealers expecting a flood of buyers while the CARS program lasted, stocked up on vehicles and marked up prices, McClatchey Newspapers reported Thursday. After the federal incentives to trade in gas guzzlers for more fuel-efficient vehicles ended, "values (go) right back down and the net effect is we end up where we started, at best," Gutierrez said. In addition, the program that took more than 700,000 used cars out of circulation would cause the prices for used cars to rise, he said. Comments Read more	CARS may come to a halt before Aug. 24 deadline Sat, 08/22/2009 - 18:23 by Jamie Anderson New York, August 22: If you are thinking of exchanging your old gas guzzler with a brand new fuel efficient car under the clunkers program, there is really no time left to think. Comments Read more
Fewer trucks, more hybrids, DOT says Fri, 08/21/2009 - 22:52 by surajdogra Washington -- U.S. motorists will see fewer light trucks on the road after the "cash for clunkers" program, the Department of Transportation said. As of Friday morning, 84 percent of the vehicles traded in under the taxpayer-financed rebate program, formally called the Car Allowance Rebate System, have been light trucks, while a majority of the purchases involved cars, The Detroit News reported. While only 4.5 percent of the vehicles sold under the rebate program were hybrids, 77 percent of the new hybrid owners traded in a truck or a sport utility vehicle, the department said. Toyota Motors Corp. has sold the most cars under the "cash for clunker" program sales, accounting for 19.2 percent of all sales. Comments Read more	Mission accomplished, CARS to end on Aug. 24 Fri, 08/21/2009 - 17:36 by Jamie Anderson New York, August 21: The immensely popular cash for clunkers program will stop accepting applications for new trade-ins on Aug. 24 as it has exhausted lion’s share of its funding in less than a month. Comments Read more	GM to help dealerships on clunker plan Thu, 08/20/2009 - 23:46 by surajdogra Detroit -- General Motors Co. said it would pinch-hit for the U.S. government by writing checks to dealerships that sold cars with the "cash for clunkers" program. Dealerships have complained the federal program was slow reimbursing them for rebates already given to customers. Some dealerships have said they would stop using the program because it has stretched their own finances to the breaking point, The New York Times reported Thursday. GM has already said the program, which was an instant hit, was critical in their decision to revamp production and call 1,350 laid off employees back to work. Dealerships pulling away from the program would undermine that momentum. Comments Read more
GM another beneficiary of the clunkers program Wed, 08/19/2009 - 17:37 by Jamie Anderson Michigan, August 19: Times have changed! Not so long ago, the automakers in the U.S were reeling under the weight of huge inventories as the demand refused to pick up in the wake of global recession. Comments Read more	Some dubious deals in an otherwise blockbuster program Fri, 08/14/2009 - 18:10 by Jamie Anderson New York, August 14: The Cash for Clunkers program that set out to revive the sagging U.S auto market and remove old gas guzzlers from the roads has been a smashing hit. Comments Read more	Some dubious deals in an otherwise blockbuster program Fri, 08/14/2009 - 17:32 by Jamie Anderson New York, August 14: The Cash for Clunkers program that set out to revive the sagging U.S auto market and remove old gas guzzlers from the roads has been a smashing hit. Comments Read more
Charities fear fewer 'clunker' donations Tue, 08/11/2009 - 01:49 by surajdogra Washington -- The federal "Cash for Clunkers" trade-in program has a new set of detractors, U.S. charity organizations that count on donated vehicles, fund raisers said. "We know there's going to be a significant impact," Chad Iseman, director of Kidney Cars, told the Detroit Free Press Monday. Kidney Cars is a fund raising division of the National Kidney Foundation, which reaps 19 percent of its revenue from donated cars trucks and SUVs. The Kidney Foundation said it expected up to 15 percent fewer vehicles as donations while the federal program offering rebates up to $4,500 for cars traded for new vehicles with higher fuel efficiency was in effect. Comments Read more	Cash for Clunkers no panacea, charities adversely affected Sun, 08/09/2009 - 18:30 by Jamie Anderson New York, August 9: The Cash for Clunkers program was a reason to smile for many. On a macro level, the entire U.S economy got a boost when its ailing auto sector reported a spike in sales. Comments Read more	CARS ready for the second lap Fri, 08/07/2009 - 18:57 by Jamie Anderson New York, August 7: The Cash for Clunkers program that has been instrumental in making the ailing U.S. auto industry record its best performance of the year will get another infusion of $2 billion. Comments Read more