Cash For Clunkers Entices Over 16,000 New Car Purchases So Far

The government's $1 billion "Cash for Clunkers" program is on pace to run through all the cash before Labor Day -- if current consumer interest is maintained -- prompting a call in Congress to boost funding.

The National Highway Traffic Safety Administration said that as of early today, 16,351 cars and trucks had been purchased under the program, using just over $68.9 million of the program's funds. NHTSA says a total of 250,000 vehicles should be able to take advantage of the program.

Congress approved funding in late June; the program officially began on Friday. It is set to expire in November, if not all the money is used.


2009 Comicon Photo Gallery

2009 Frankfurt Auto Show Photo Gallery
 

EL34 - 7/29/2009 7:09:10 PM

-2 Boost

What a joke!

The Obama Admin is a sinking ship.

Anyone wanna beer?

Agent001 - 7/30/2009 12:32:00 PM

+2 Boost

Why not. Always up 4 a beer in the summer!

001

bfghemicuda - 7/31/2009 12:06:23 AM

0 Boost

Dosent sound like EL34 wants America to fail but rather Obamas Socialist policies to fail. And they are. Looks like Americans are waking up to the reality of what the far left really looks like. This whole cash for clunkers crap never needed to happen if the lending source was repaired.

mocashflo924 - 7/29/2009 10:24:14 PM

+2 Boost

This is a good idea but if we are going repair the auto industry, this program should only apply to cars and trucks built in the USA. Sure we'll give you $4500 off a new car built in Japan. Bullshit, It can be a toyota as long as American workers built it and by buying that car or truck your helping american workers.

1234xyz - 7/30/2009 10:44:50 PM

+1 Boost

they all ready killed the program. ran out of money after 4 days. what a joke.

theman440 - 7/30/2009 11:06:09 PM

+3 Boost

Automotive News is reporting the U.S. government will suspend the Car Allowance Rebate System (CARS), better-known as the “cash for clunkers” or “cash for guzzlers” program, as soon as tomorrow.

The $1 billion program, intended to spur automobile sales and get older, less fuel-efficient vehicles off the road, has proven too successful. Plans called for CARS to run through October or when the billion-dollar limit was reached, but the promotion is in danger of exceeding its funding limit even though it was kicked off just a few days ago.

Officials at the Department of Transportation, which administers the program, had no comment.