The government’s popular “cash for clunkers” program may be running out of money after only a matter of days as car shoppers flock to dealerships to take advantage of the rebates.
HOUSTON — The Cash for Clunkers program has only been available for a few days, but it’s about to be suspended, KPRC Local 2 reported Thursday. The initiative officially began Monday. By Thursday, the U.S. government said the money has almost run out.
Mike Randolph | The Bay City TimesKen Champers, sales manager for Thelen Auto Group, described the dealership’s showroom as, “Chaotic” due to the foot traffic brought in by the Cash for Clunkers rebate program. The federal government suspended the enormously…
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The federal government has suspended the popular Cash For Clunkers program because they say it’s too popular, and the $1 billion allotted for new car refunds might run out too soon. (Provided by News 13)
It took four days for American car shoppers to burn through the $950 million tax dollars budgeted for “Cash for Clunkers.”
This much seems certain about the Cash for Clunkers program: Consumers are happy to take government rebates to buy new cars.
The federal Cash for Clunkers program has been suspended – or not, depending on who you ask. The program was intended to put more fuel-efficient cars on U.S. roads by offering up to $4,500 to people in exchange for trading in their gas guzzlers for cars that get better gas mileage.
Federal officials announce that the Cash For Clunkers is being suspended.
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