Cash for Clunkers Ending. It's true, the program ends on Monday. U.S. Transportation Secretary Ray LaHood said on Thursday that the Cash for Clunkers program will be shut down on Monday. Why it's ending too soon? The program was supposed to run up to November of this year but it is now cut short. The reason is clunky bureaucracy. Automobile dealers are finding it hard to get their money. The program is a big hit to the public who wants to get a new car but the dealers are not actually having a good time out of it. Two weeks after the program started the $1 billion allocated for it was depleted. Yes, it's that fast.
Labels: Cash for Clunkers Ending
1 comments:
Subscribe to:
Post Comments (Atom)
Well, the government seems have done their best, just as the Inside Line says: As a sales motivator, Cash for Clunkers has certainly been good for stimulating car sales. But the government can only do so much to help.
Although the program would end before we expected, and only run for a couple of weeks, it do contribute to the car industry, General Motors is enjoying a recent sales uptick and Chrysler had announced it would increase its production.