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The Car Allowance Rebate System ( CARS ), colloquially known as " cash for clunkers ", was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel-efficient vehicle when trading in a less fuel-efficient vehicle. The program was promoted as a post-recession stimulus ...
A scrappage program is a government incentive program to promote the replacement of old vehicles with modern vehicles. Scrappage programs generally have the dual aim of stimulating the automobile industry and removing inefficient, more polluting vehicles from the road. Many European countries introduced large-scale scrappage programs as an ...
Blinder was an early advocate of a "Cash for Clunkers" program, in which the government buys some of the oldest, most-polluting vehicles and scraps them. In July 2008, he wrote an article in The New York Times advocating such a program, [ 22 ] which was implemented by the Obama administration during the summer of 2009. [ 23 ]
As the "cash for clunkers" program kicked into high gear this week and dealers started accepting trade-ins, automakers heralded the new effort as a way to boost. Update: The "Cash for Clunkers ...
The "cash for clunkers" program, which offers $3,500 to $4,500 to buyers trading in older cars for newer, more fuel-efficient models, is a turning point in the government's plan to bailout the ...
About nine months have passed since the federal government ended its popular and controversial "cash for clunkers" program. But the jury is still out on how much the incentive helped boost the ...
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Starting today, the government's Car Allowance Rebate System (CARS), aka "Cash for Clunkers," will go into effect. The controversial program, which has drawn both the appreciation and the ire of ...