Monday
Jul272009
Cash For Clunkers Program Goes Into Drive
Monday, July 27, 2009 at 2:01PM
By Courtney Costello- Talk Radio News Service
Transportation Secretary Ray LaHood kicked off the CARS (Car Allowance Rebate System) program Monday at the Department of Transportation in Washington.
CARS is essentially an incentive buyers program for fuel efficient vehicles.
According to LaHood, the program, also known as “Cash for Clunkers,” will help struggling consumers buy cost efficient and energy efficient cars. It will also help dealerships overcome the bad economy and it will help lower green house admissions.
LaHood explained that any car purchased through the program must be more fuel efficient than the car being traded in.
“This experiment has worked very, very well in other countries, including Germany where new car sales in June were up 40% from the previous June...We have experience in other countries that proves that it works,” added Sen. Carl Levin (D-Mich.)
Rep. Betty Sutton (D-Ohio) said, “We have an exciting road ahead of us here in this nation, with this CARS program we’re going to shore up and strengthen our manufacturing...We’re not only going to make it possible for our auto and related industries to compete, of course, were going to make sure and make it possible for them to succeed."
As of today, 16,000 dealers have submitted applications to participate and 1.5 million Americans have visited the program's website (cars.gov), said LaHood.
The program will run until November 1st, 2009, or until funding for the program runs out. The National Highway Traffic Safety Administration expects that 250,000 “clunkers” will be taken off the road as a result of the program.
Also present for the announcement were Reps. Sander Levin (D-Mich.) and John Dingell (D-Mich.)
Transportation Secretary Ray LaHood kicked off the CARS (Car Allowance Rebate System) program Monday at the Department of Transportation in Washington.
CARS is essentially an incentive buyers program for fuel efficient vehicles.
According to LaHood, the program, also known as “Cash for Clunkers,” will help struggling consumers buy cost efficient and energy efficient cars. It will also help dealerships overcome the bad economy and it will help lower green house admissions.
LaHood explained that any car purchased through the program must be more fuel efficient than the car being traded in.
“This experiment has worked very, very well in other countries, including Germany where new car sales in June were up 40% from the previous June...We have experience in other countries that proves that it works,” added Sen. Carl Levin (D-Mich.)
Rep. Betty Sutton (D-Ohio) said, “We have an exciting road ahead of us here in this nation, with this CARS program we’re going to shore up and strengthen our manufacturing...We’re not only going to make it possible for our auto and related industries to compete, of course, were going to make sure and make it possible for them to succeed."
As of today, 16,000 dealers have submitted applications to participate and 1.5 million Americans have visited the program's website (cars.gov), said LaHood.
The program will run until November 1st, 2009, or until funding for the program runs out. The National Highway Traffic Safety Administration expects that 250,000 “clunkers” will be taken off the road as a result of the program.
Also present for the announcement were Reps. Sander Levin (D-Mich.) and John Dingell (D-Mich.)
Reader Comments (3)
[...] will go quickly,” …Cash for Clunkers program draws intense interestThe Detroit NewsCash For Clunkers Program Goes Into DriveTalk Radio News ServiceCash for Clunkers ProgramABC30.comNew York [...]
[...] will go quickly,” …Cash for Clunkers program draws intense interestThe Detroit NewsCash For Clunkers Program Goes Into DriveTalk Radio News ServiceCash for Clunkers ProgramABC30.comKPVI-TV -KYW1060.com -New York [...]
“Cash for clunker” ----the lately passed consumption stimulating project, is expected to help the car industry to get through the trying winter. This may be an effective program to stimulate consumption and I believe the result of the project may profit the entire American. It could be considered as an American self-aid measure and It leads to the better side.
While, I don’t think another economic program from Washington could bear as much fruit as “cash for clinker”. Now, American is trying to follow the lead of Asian Economics’ export oriented development pattern, that is, by selling goods to other markets. This could be considered as a mutual aid program, but the question is and remains: Could other Economics really help even if they are willing to (or have to)?...
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