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...
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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...
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...
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...
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...
A week after reports that the original $1 billion allocated for the Cash-for-Clunkers program was running low, President Obama today signed into law an additional $2 billion that will keep the program running and fuel a rebounding auto industry. In just two weeks since the original bill was passed the Cash-for-Clunkers or CARS (Car Allowance… Continue Reading...
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...
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...
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...
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...
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...
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 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...
Late yesterday the House of Representatives approved a bill that would offer consumers up to $4,500 to trade in their vehicle on a more fuel-efficient machine. The legislation must now go before the Senate before President Barack Obama is expected to give it final approval. The bill passed with a strong majority of 298 to… Continue Reading...