September 2, 2009 |
Hailed as a jump-start for the U.S. economy, the federal government's "cash for clunkers" gave the biggest boost to foreign automakers. Overall, auto sales in August were the highest in more than a year, according to industry figures released Tuesday. Carmakers sold more than 1.2 million cars and trucks, up 1% from the same month last year and the first year-over-year sales gain since August 2007. Much of that was a result of the clunkers program, which ran July 24 to Aug. 24 and provided hefty government rebates to consumers who traded in gas guzzlers for more fuel-efficient new vehicles.
August 21, 2009 |
After gorging on clunkers this summer, can automakers make it through the fall? That was the question buzzing through the industry Thursday as the government announced that the popular "cash for clunkers" program would end at 5 p.m. Pacific time Monday. Economists credit the program with reviving moribund car sales. But with the cash incentives gone, some fear the newly buoyant auto market could quickly crash in its wake -- just as automakers rushed to boost production in response to clunker-driven sales.
August 16, 2009 |
If you make more money you're more likely to mail in rebate forms that give you cash back on purchases, says Consumer Reports. The consumer organization's random telephone survey of 1,000 U.S. adults showed that 70% of those surveyed said that they had, at least once, applied for a rebate in the previous 12 months. Of those, 21% said they never got any cash back. Those who said they often or always use rebates are most commonly between 35 and 64 years old (55%) and are likelier to live in a household with income of $100,000 or more (63%)
August 14, 2009 |
Consumer advocates called on federal officials today to crack down on auto dealers that they contend are taking advantage of car buyers participating in the government's "cash for clunkers" program. In some cases, the groups said, dealerships are requiring buyers to sign agreements that oblige the consumer to repay the dealer for the program's $3,500 or $4,500 rebate if the government denies the claim -- despite a government advisory that consumers are not required to sign such agreements.
August 10, 2009 |
Car buyers throttled back from the mad dash last week, but sales were still brisk over the weekend as the "cash for clunkers" program continued to attract crowds to Southern California dealerships. The Senate on Friday voted to pump an additional $2 billion into the popular auto rebate program, which should be enough to extend it through Labor Day. As expected, that slowed traffic somewhat to dealerships after last week's frenzy, when consumers rushed to car lots fearing that the program would run out of money.
August 7, 2009 |
"Cash for clunkers" will live on, but shoppers in the weeks ahead may have a hard time finding that fuel-efficient ride they've been craving since the program got underway. The Senate voted 60 to 37 to approve $2 billion in additional funding Thursday, ending a weeklong scramble to keep the popular auto rebate initiative from running out of money. That could subsidize the purchase of half a million vehicles and provide a further boost to the sagging auto industry.
August 3, 2009 |
Auto dealers found themselves in an unusual situation over the weekend: crowds of anxious buyers and a dwindling supply of cars. The overwhelmingly popular $1-billion federal effort to stimulate auto sales gave dealers another busy weekend, capping nine days of activity they hadn't seen in a long time. And the "cash for clunkers" program will continue for at least two more days.
August 1, 2009 |
Anxious buyers were rolling into Southern California car dealerships Friday, eager to snag a cash-for-clunkers deal while they still had the chance. And some dealers said they were girding for a hellish weekend with a lucrative twist. At Galpin Ford in North Hills, where huge banners promised "Big ca$h for your clunker," the showroom was packed with people. "I've never worked so hard," said Galpin salesman Brian Fraleigh, who said he worked selling cars until 3:30 a.m.