Luxury Brands Make Gains As Cash For Clunkers Brings Numbers Back To Earth

Luxury Brands Make Gains As Cash For Clunkers Brings Numbers Back To Earth
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Year-to-date sales for August 2010 may look poor, but the numbers are actually much closer to reality now that the Cash for Clunkers scheme has wrapped up. Cash for Clunkers, which offered rebates ranging from $3,000-$4,000 on the purchase of a new car and trade-in of a used car, sent sales skyrocketing in 2009, and… Continue Reading...

Dealers Investigated For “Cash For Clunkers” Fraud – $94 Million At Stake

Dealers Investigated For “Cash For Clunkers” Fraud – $94 Million At Stake
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The United States Federal Government’s cynical Keynesian vehicle scrappage program scheme was by all accounts a success (if you believe that blind consumption is a win), but some dealers apparently skirted the rules, and now the government is looking for dealers who may have gamed the system – and may withhold $94 million in rebates… Continue Reading...

Report: Cash for Clunkers Binge Brings September Hangover for Auto Indsutry

Report: Cash for Clunkers Binge Brings September Hangover for Auto Indsutry
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As expected, auto industry sales were way down for the month of September, after record highs posted during the previous month with the Cash for Clunkers program in effect. Compared to September of 2008, GM’s sales declined 45 percent, while Chrysler dropped 42 percent. Ford’s posted just a modest 5 percent loss due in part… Continue Reading...

Report: New Cash for Clunkers Results List Two Trucks Amongst Most Popular Purchases

Report: New Cash for Clunkers Results List Two Trucks Amongst Most Popular Purchases
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When the U.S. government first released its list of the most popular Cash for Clunkers vehicles traded in as well as those purchased there seemed to be no surprises. It looked like consumers were getting rid of their Ford Explorers for Priuses. But after taking a longer look at the data, it seems that might… Continue Reading...

Report: Cash for Clunkers Boosts August Auto Sales

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Report: Cash for Clunkers Boosts August Auto Sales
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The U.S. auto industry showed continued improvement in the month of August, helped on by the Obama Administration’s Cash for Clunkers program. Ford was once again a big winner as sales increased 17.2 percent over last August, a significant improvement over the 2.4 percent growth in July – which was thought to be good at… Continue Reading...

Report: Toyota Corolla Tops Cash-for-Clunkers Purchase List

Report: Toyota Corolla Tops Cash-for-Clunkers Purchase List
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With the Cash-for-Clunkers program officially ending last night, the U.S. Department of Transportation has now released its top 10 list of the most purchased vehicles under the program, with the most popular car purchased being the Toyota Corolla. Toyotas actually took three of the top 10 spots, with the Camry placing third and the new… Continue Reading...

Report: Fords Fill Five of Top 10 Spots on Clunkers List

Report: Fords Fill Five of Top 10 Spots on Clunkers List
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The four-wheel-drive Ford Explorer topped the list of clunkers traded in under the Car Allowance Rebate System. Ford vehicles appeared five times on the Cash for Clunkers top ten trade-in vehicles list released by the U.S. Department of Transportation. The four-wheel-drive Explorer was number one with the two-wheel-drive version at number four. The Ford F150… Continue Reading...

Report: Cash for Clunkers Program Results in 690,114 Deals Worth $2.88 Billion

Report: Cash for Clunkers Program Results in 690,114 Deals Worth $2.88 Billion
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The Cash for Clunkers program has come to an end and its impact can now be evaluated. According to U.S. Department of Transportation, dealers submitted 690,114 transactions under the Car Allowance Rebate System (CARS), more commonly known as Cash-for-Clunkers. Those rebate applications account for $2.877 billion out of the $3 billion approved by Congress. That… Continue Reading...

Report: Cash for Clunkers Program Ends Monday

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Report: Cash for Clunkers Program Ends Monday
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Car owners hoping to take advantage of the “cash for clunkers” incentive program will have to do it by this Monday (Aug. 21) at 8 p.m., as the Obama Administration shuts down the popular program. U.S. Transportation Secretary Ray LaHood said the Car Allowance Rebate System (CARS), offering incentives for trade-ins, should have enough funding… Continue Reading...

Report: Cash-for-Clunkers Out of Cash Again

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Report: Cash-for-Clunkers Out of Cash Again
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The National Automobile Dealers Association (NADA) has asked the U.S. government to suspend the Cash-for-Clunkers program immediately as it believes the $3 billion in earmarked funds have already been used up. NADA Chairman John McEleney told Automotive News that based on a survey of its dealers it believes the $3 billion in funding could be… Continue Reading...

Report: Hyundai Canada Launches Its Own Cash-for-Clunkers Program

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Report: Hyundai Canada Launches Its Own Cash-for-Clunkers Program
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In the absence of any real movement by the Canadian government to establish a cash-for-clunkers program like the one that is currently boosting auto sales in the U.S., Hyundai Canada has just announced its own incentive program to get older, less-environmentally responsible cars off the road and get you into a Hyundai. Currently through the… Continue Reading...

Report: General Motors Adds Shifts to Meet Rising Demand

Report: General Motors Adds Shifts to Meet Rising Demand
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In a sign that the Cash-for-Clunkers program is working and that car sales are finally starting to turn a corner, General Motors has announced that it is increasing production and adding overtime shifts at several plants. Shifts will be added at GM’s CAMI plant in Ingersoll, Ontario, Canada and at the Lordstown, Ohio plant. The… Continue Reading...

Audi Offers $1,000 Off Models That Meet Cash-for-Clunkers Rebate Requirements

Audi Offers $1,000 Off Models That Meet Cash-for-Clunkers Rebate Requirements
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Audi will offer an additional $1,000 off any vehicle that also meets the requirements for a Cash-for-Clunkers rebate. This means customers could save up to $5,500 off the price of a new Audi. Eligible vehicles for the CARS (Car Allowance Rebate System) rebate include hatchbacks, sedans, convertibles, crossovers and even sports cars. Notable models include… Continue Reading...

Ford Posts Surprising Sales Gain of 2% In July

Ford Posts Surprising Sales Gain of 2% In July
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With the current state of affairs in the auto industry, smaller than expected losses have been cause to celebrate, so imagine the party the folks over at Ford must be having right now as the company announced today that it actually posted a sales gain. Last month Ford’s 10 percent loss was seen as a… Continue Reading...

Report: Nissan Improves Fuel Economy To Attract Cash-for-Clunkers Buyers

Report: Nissan Improves Fuel Economy To Attract Cash-for-Clunkers Buyers
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With the U.S. government’s Cash-for-Clunkers rebate now available, Nissan is improving the fuel-economy of its cars to increase the chances that you’ll qualify for the full $4,500 at one of its dealerships. The CARS (Car Allowance Rebate System) program works by giving a $3,500 or $4,500 voucher towards a new car when it gets 4… Continue Reading...

Breaking: Cash-for-Clunkers Program to be Suspended as Funding Dries Up

Breaking: Cash-for-Clunkers Program to be Suspended as Funding Dries Up
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  If you’ve been trying to decide whether or not to trade in your gas guzzler on a new fuel-efficient model and cash in on the government’s $4,500 CARS rebate, you’ve waited too long. The program, funded with 1 billion dollars of tax payers’ money is already running low – just six days after the… Continue Reading...

Breaking: New Chrysler Incentive Doubles Cash-for-Clunkers Rebate

Breaking: New Chrysler Incentive Doubles Cash-for-Clunkers Rebate
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In a bid to get inventory moving out of showrooms in a hurry, Chrysler has decided to offer a new incentive program that would double the value of the government’s cash-for-clunkers program. Chrysler will offer $4,500 off (or 0 percent financing for 72 months) on most of its 2009 inventory – excluding the Dodge Challenger,… Continue Reading...

Report: Cash-for-Clunkers Trades Account for 7% of Hyundai Sales in First Week

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Report: Cash-for-Clunkers Trades Account for 7% of Hyundai Sales in First Week
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Hyundai is the first automaker to start accepting trade-ins under the pending Cash-for-Clunkers legislation, and during the first week of trade-ins CARS (Car Allowance Rebate System) rebates have accounted for seven percent of all sales for Hyundai Motor America. While the Cash-for-Clunkers incentives have yet to be finalized by the U.S. government, automakers have been… Continue Reading...

Canada Exploring $3,500 Cash-for-Clunkers Program

Canada Exploring $3,500 Cash-for-Clunkers Program
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The Canadian government is currently examining if it will pass a cash-for-clunkers bill that could see consumers get up to $3,500 (CDN) towards a new car when they trade in their older and less fuel-efficient model. Environment Minister Jim Prentice said a decision on the matter will be made within the next 60 days, as… Continue Reading...

President Obama Signs Cash For Guzzlers

President Obama Signs Cash For Guzzlers
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After passing through both the Senate and the House, the Cash-for-Guzzlers bill has been signed by President Obama. Known also as Cash-for-Clunkers, the official name of the legislation is CARS – the Car Allowance Rebate System. Vehicles that are traded in must get 18 mpg or worse and be newer than 25 years old. For… Continue Reading...

Honda Insight Sales Lower Than Expected in U.S.

Honda Insight Sales Lower Than Expected in U.S.
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Honda is warning that it may not meet its forecasted sales target for the all-new 2010 Insight hybrid and is citing both the worldwide recession and the low cost of gas as factors. The Japanese automaker set an ambitious target of 200,000 units for the car’s first year, with almost half of those vehicle sales… Continue Reading...

Hyundai Claims Stalled “Cash for Clunkers” Bill Costing Auto Industry 100,000 Sales Each Month

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Hyundai Claims Stalled “Cash for Clunkers” Bill Costing Auto Industry 100,000 Sales Each Month
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According to a Hall & Partners survey performed on behalf of Hyundai, the delay in passing a “Cash for Clunkers” bill is costing the U.S. auto industry as many as 100,000 lost sales each month. The survey results showed that 38 percent of potential new car buyers were aware of a pending “cash for clunkers”… Continue Reading...
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