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 more than a week away. Congress passed the Cash for Clunkers Bill on July 1. In that period of time, consumer buzz has fallen of considerably, according to the article, though most dealers and some manufacturers are doing what they can to keep the interest up.
Compounding issues is what some critics of the program call too-tough eligibility criteria. The fact that the vehicles must be newer than 25 years old and get 18 mpg less could be hurting interest, according to some dealers. The notion is that there may be buyers out there with older cars that still get better than 18 mpg. Under the current eligibility standards, those buyers wouldn’t be able to participate in the program to buy a newer, even more efficient vehicle. Other buyers may have cars older than the 25 year limit and want to participate.
Despite the perceived lower interest in the program, both Ford Motor Company and General Motors have set up special hot lines and Web sites to help buyers determine whether or not the vehicle in their driveway will be eligible for the program. As it is, no one knows for sure what other sort of stipulations the NHTSA may put on owners looking to turn their old car into cash from Uncle Sam. [Source: WSJ]
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