Front Row Washington
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Cash for Clunkers: the day after
One of the most popular programs brought in by the administration of President Barack Obama, “cash for clunkers”, which offered rebates of up to $4,500 to trade in older gas guzzlers, wrapped up on Monday.
Some auto dealers are concerned about the slow pace of reimbursements under the program and the low inventories that have followed in its wake.
(PHOTO: A clunker vehicle sits in a parking lot during the last day of the “Cash For Clunkers” auto rebate program at Courtesy Chevrolet dealership in Phoenix, Arizona, August 24, 2009. REUTERS/Joshua Lott)
See the two video clips below. The first is of Cliff Johnson, president of Texas Motors Ford in Fort Worth, talking about his concerns. The other is from his new vehicle director, Jeremy Pirotte, who talks about inventories.
Government and industry officials say they do not expect the auto rebate program to be renewed in the immediate future, even though it has been popular with consumers and is considered a genuine economic stimulus at a time when the nation is in recession.
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What does it take to sell cars in the US? We now have a government bribe on top of zero-percent interest, manufacturers’ rebates and lifetime warranties.
“What does it take to sell cars in the US? We now have a government bribe on top of zero-percent interest, manufacturers’ rebates and lifetime warranties.”
classic+
you will love this article http://mises.org/story/3329
Hey, At least the government is getting the oil burning junks off the road. Hooray, now the vehicles have brakes and etc.
hey dvictr…great article…read it all the way to the end. Hm. What a concept…using real money…
did the participators in the clunker plan get clunkered?It was revealed today that the people who used the scheme will have to declare the 4500 rebate in their tax returns. Was this sprung on them or were they pre warned before hand?if not it could be a trend that will be played out in the future as the Obama none tax promises evaporate.
[...] Cash for Clunkers: the day after – The cash for clunkers program has finally come to end, but not without getting 700,000 gas guzzlers off the road. Despite the success of the program, some people believe that it was nothing more than an expensive way to reduce emissions. [...]