Cash For Clunkers Motors Forward Offering $4,500 for Gas Guzzlers
Dealerships could see up to a million new shoppers this year thanks to the "Cash for Clunkers" bill.
A measure to offer vouchers of up to $4,500 to take polluting gas guzzlers off the road and replace them with new cars is picking up speed. President Obama and House Democrats have settled on a version of the bill and revealed more details about how it would work. It still must pass the full Congress before going into effect.
Since we last saw the plan, it has been reworked and some of the earlier objectionable elements have been scrapped. It now appears that it will not call for the crushing of used cars and is completely optional. It also has been tweaked to lessen the impact on low income families and will not cut into the classic car market.
Still, some groups say the measure will not significantly improve fuel economy of many vehicles on the road. The government is expecting that the program may stimulate 500,000 to 1 million sales, but based on Edmunds' users we could see up to 3 million additional new car sales created by the program.
For more details on this issue please see our detailed breakdown of the proposed program here as well as an environmental analysis on Green Car Advisor.
- Posted by
- Philip Reed May 6, 2009, 11:57 AM
- Permalink
- Categories:
- Car Buying, Car Loans and Financing, Fuel Economy, Vehicle Incentives and Rebates
- Technorati Tags:
- car sales, Cash for clunkers, Congress, fuel economy, gas guzzlers, incentives, Obama
This is just so stupid... let's take all the decent sub $4k cars off the road... especially when the government shouldn't be throwing around any more money around. what a waste!
What decent sub $4k cars?
I like the idea. it would be a big confidence boost for local car dealers and its doing something to stimulate the economy with consumers direct aide.
Thanks for great coverage. Two questions:
What happens when turn in a light truck for passenger vehicle or heavy duty truck?
Heavy truck must be 6000 pounds? Is that curb weight or gross vehicle weight?
Do idiot congress people understand that the bill essentially requires americans to trade in light duty US trucks for light duty Japanese trucks in order to reach 18mpg combined?
Do you know if you could trade in two cars? Does SUV count as truck. Could I go from an SUV to a car? Thanks.