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.)
Cash For Clunkers Program Goes Into Drive
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.)