Cash for Guzzlers
Cash For Clunkers has been over for over a week now, but only around 120,000 rebates have been processed so far. That means $500 million of the CARS program’s $3 billion has been spent, leaving dealers holding the tab on $2.5 billion in clunker deals. There are plenty of reasons for the hold up, starting [...]
Comment (0)
The hugely popular Cash for Clunkers or CARS program ended Monday night at 8:00 pm. Though the rebate system resulted in over 700,000 old, gas-hungry vehicles being traded in for an equal number of efficient, brand-new cars and trucks, many dealers are still scrambling to file the proper paperwork involved in getting their deals approved. [...]
Comment (0)
A staggering 450,000 clunkers have been traded in for new, fuel-efficient vehicles. While that’s great news for buyers, sellers and manufacturers alike, no one expected the CARS program to be so popular or so effective. After receiving an additional $2 billion in funding — upping the grand total to $3 billion — Cash for Clunkers [...]
Comment (0)
Cash for Clunkers, or CARS, has been a resounding success so far. The first $1 billion allocated for the program was exasperated in the first week, and congress has since approved another $2 billion to keep the vouchers flowing. As expected, manufacturers have seen increased sales for the first time in months. That means dealers [...]
Comment (0)
The Cash for Clunkers, or CARS, program is off to an amazing success, with most of the original $1 billion allotted for the program already spent. So far, domestic manufacturers have benefited from the program immensely, with the Ford Focus taking top honors as the vehicle most purchased with Cash for Clunkers vouchers. That doesn’t [...]
Comment (0)
The Cash for Clunkers program, or CARS, has only been under way for a week, but the federal government has already handed out $35 million of the $1 billion available. Needless to say, plenty of people have taken advantage of the $4,500 vouchers toward new vehicles. According to ABC News, over 8,000 deals have already [...]
Comment (0)
According to the results of a new survey released by Dealix, auto dealers across the country say the new federal automotive incentive program has spurred interest in new car sales. Despite the fact that the rules governing the program have yet to be released by the National Highway Transportation Safety Administration, three out of 10 [...]
Comment (0)
It looks like Chrysler is looking to sweeten the CARS deal. The company just announced a month-long program to spur sales by offering an additional $4,500 for trade-ins regardless of whether or not the old vehicle meets federal requirements for the rebate system. For buyers looking for better financing instead of cold hard cash, the [...]
Comment (0)
The Wall Street Journal recently ran an article saying the month-long interim period between passage and enactment of the new CARS program may have thrown cold water on public excitement. According to the article, The National Highway Transportation Safety Administration won’t release full details on vehicle eligibility until on or around July 24th. That’s still [...]
Comment (0)
The National Highway Transportation Safety Administration held an informative webinar with NADA to help answer a few lingering questions about the new Cash for Clunkers program. The NHTSA has settled on an official name, the Car Allowance Rebate System (CARS). One of the biggest questions dealers had during the NADA webinar was on how they [...]
Comment (0)