Energy Literacy Advocates Newsroom
Cash for Clunkers Ends, but Deadline for Dealers is Extended
Tuesday, August 25, 2009
While the Obama administration announced last week that Cash for Clunkers would end Monday night, August 24, at 8pm ET, the deadline for car dealers has been extended. Dealers will now have until today at noon (ET) to finish filing paperwork, due to a shutdown of the Department of Transportation website.
Initial numbers show that, as of Monday, 625,000 clunkers were turned in and $2.58 billion in vouchers had been sent. Final targets are 700,000 clunkers and $3 billion in vouchers. The program has proved a huge success for the automotive industry, offering an estimated 30% boost in sales.
Transportation Secretary Ray LaHood called the program a success, and reported that the new cars purchased under CFC were 60% more efficient than the clunkers traded in.
For more, click here.
Labels: automakers, cash for clunkers, economy, efficiency, u.s. energy policy
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