Cash for Clunkers has helped automakers sell more cars while also clearing out some excess inventory on dealer lots. But the sales boost of C4C is only expected to last so long, as many analysts expect the program to run its entire budget by Labor Day. Does that mean the months ahead will revert to the putrid car sales of the first six months of the year? J.D. Power doesn't seem to think so.
2009 Ford Focus SES Coupe – Click above for high-res image gallery
There's no arguing that the various Cash for Clunkers-style programs all around the world are intended first and foremost to spur lagging automobile sales. Environmental concerns have taken a back seat to helping automakers and dealerships move some more metal. Still, at least we know that the barely-running pollution-spewing machines are headed to the great junkyard in the sky, right?
By most measures, the U.S. Cash for Clunkers program has turned into a rousing success story for consumers that happen to qualify for the government's somewhat arbitrary rules as well as dealers and automakers looking to sell a few more cars. What's still debatable, though, is how much environmental benefit will really be seen on account of the program.
In the flurry to give Cash For Clunkers – sorry, C.A.R.S. – a very quick $2 billion extension last week, some of the more critical voices of the program were drowned out. At the very least, their effort was in vail. It may be too late to stop the bill from becoming law, but it's worth it to think through some of the possible unintended side effects of paying people to jun
2009 Ford Escape Hybrid - Click above for a high-res image gallery
After a week of uncertainty and a lot of weighing in from all sides, C.A.R.S. (aka Cash For Clunkers) looks set to continue for another month, at least. The Senate confirmed the House's $2 billion funding of the incredibly popular program yesterday in a 60-37 vote, mostly on party lines. President Obama has said he will sign the bill. The money should last through Labor Day, and rumor has it that C.A.R.S. won't be extended again. In fact, one of the bill's strongest supporters, Michigan Senator
Cash for Clunkers lives on. The Senate passed a $2 billion extension late tonight with a vote of 60/37, giving customers the opportunity to purchase about 500,000 more vehicles through the program. The Obama administration estimates that most or all of the original $1 billion was spent in a matter of only ten days and it's expected the additional $2 billion will only last through Labor Day.
Another day, another Cash For Clunkers news digest:
The foggy blur surrounding the fate of Cash For Clunkers (aka C.A.R.S.) is clearing up. On the political front, passage in the Senate of the extra $2 billion in funds now looks incredibly likely. White House Press Secretary Robert Gibbs said that the $2 billion
Another day, another bunch of news items about Cash For Clunkers (a.k.a. C.A.R.S.). With Friday's Senate recess date fast approaching, the Obama Administration is reportedly pushing the body's 100 members there to get their acts together and vote for more funding to keep the program alive. Two senators who had been seen as potential roadblocks to getting C.A.R.S. the quick $2 billio
Another day, another bunch of news items about Cash For Clunkers (a.k.a. C.A.R.S.). With Friday's Senate recess date fast approaching, the Obama Administration is reportedly pushing the body's 100 members there to get their acts together and vote for more funding to keep the program alive. Two senators who had been seen as potential roadblocks to getting C.A.R.S. the quick $2 billion that the House has approved, Dianne Feinstein (D) and Susan Collins (R), have now said the Administration had "ea
The Cash For Clunkers program, officially known as CARS, is a program in flux. If you missed the CARS news over the weekend, read this post. Here's what has happened since then:
2009 Ford Focus SES Coupe – Click above for high-res image gallery
Last week, there were gasps all around as people watched how a Cash-for-Clunkers trade-in meets its smoky end. Even though the program was blessed with a $2B lifeline to continue, there may be fewer silicate glass engine deaths from now on since dealers have been granted the option of waiting to kill engin
What do you do with a program that is driving so many customers into your showrooms that inventory is now running low? If you are Chrysler, and it's the popular incentive plan tied to the government's C.A.R.S. (a.k.a. "Cash for Clunkers") program, you extinguish it and replace it with a new, less attractive version. Really.
The Cash for Clunkers website sent out a short and sweet email update on the roller-coaster status of the program: "CARS Back on the Road." Thanks to quick Congressional action on Friday, CARS was given a $2 billion revival shot – enough to maybe keep it alive for another two weeks – by the House, and the website currently states the following:
As you're aware by now, yesterday's big news was H.R. 3435, the emergency legislation passed by the House of Representatives authorizing an additional $2B for the CARS scrappage scheme. As had been widely reported on Thursday, the clunkers program appeared to have run out of money a lot sooner than anyone had expected, sending legislators in favor of it into a panic. After a period o
