"Clunkers" Program gone???
08-05-2009, 10:57 PM
#31
Senior Member
Join Date: 06-29-2008
Location: Crystal Lake
Posts: 839
Program Back On!!!
WASHINGTON – The Senate reached a deal on saving the dwindling "cash for clunkers" program late Wednesday, agreeing to vote on a plan that would add $2 billion to the popular rebate program and give car shoppers until Labor Day to trade in their gas-guzzlers for a new ride.
Following lengthy negotiations, Senate Majority Leader Harry Reid said Democrats and Republicans had agreed to vote on the plan Thursday, along with a series of potential changes to the bill, which was passed by the House last week. Reid has said Democrats have enough votes to approve the measure and reject any changes that would cause an interruption in the rebates of up to $4,500.
Reid said the agreement "accomplishes what we need to accomplish."
Late Wednesday, it was not clear that any of the proposed amendments stood a chance of passing. Some of them included placing an income limit on those benefiting from the vouchers and requiring the government to sell off its stakes in General Motors Co. and Chrysler Group LLC.
Any Senate changes to the bill would require another vote in the House, something that couldn't take place until the House returns in September from a monthlong recess.
The government said Wednesday that more than $775 million of the $1 billion fund had been spent, accounting for nearly 185,000 new vehicles sold. President Barack Obama has said the program would go broke by Friday if not replenished by Congress.
Administration officials have estimated the additional $2 billion could fund another 500,000 vehicle sales and last into Labor Day.
That's the same day the Senate was to follow the House into the August recess, a looming break that Senate leaders often use to prod their colleagues past standoffs.
"We all acknowledge there's a significant majority that want to move forward with this legislation," Reid, D-Nev., said earlier in the day, adding that he has the votes to approve the House-passed version as is.
His Republican counterpart, Sen. Mitch McConnell of Kentucky, concurred that the matter would be settled soon. And objectors conceded they do not have the votes to force all of the changes they want, or to block the House version of the bill.
"My guess is, at the end of the day, it will pass," said Sen. John Thune, R-S.D., who called it an example of "Congress choosing winners and losers among industries."
The program offers car buyers rebates of between $3,500 and $4,500 for trading in their gas-guzzlers for new, higher-mileage models.
The new funding would triple the cost of $1 billion rebate program and give as many as a half-million more Americans the chance to grab the new car incentives through September.
Car companies have credited the clunkers program with driving up sales in late July. Most consumers are buying smaller, more fuel-efficient vehicles under the program, according to a list of the top-10 selling cars released Wednesday by the National Highway Traffic Safety Administration.
Among manufacturers, General Motors Co. had the largest share, accounting for 18.7 percent of new sales, followed by Toyota Motor Corp. with 17.9 percent. Ford Motor Co. was third with 16 percent of the sales. Detroit automakers represented 45.3 percent of the total sales while Japan's Toyota, Honda Motor Co. and Nissan Motor Co. accounted for 36.5 percent.
The Toyota Corolla is the top-selling vehicle on the list, followed by the Ford Focus, Honda Civic, Toyota Prius and the Toyota Camry. There is one SUV on the list, the Ford Escape, which also comes in a hybrid model that can get up to 32 miles per gallon. Six of the top-10 selling vehicles are built by foreign manufacturers, but most are built in North America.
If the Senate approves the additional money, it's likely to lead automakers to increase production and bring back laid-off workers. Many automakers reported low inventories due to increased sales from the program at the end of July. Already Hyundai Motor Co. has added a day of production to its Montgomery, Ala., plant, and Ford is considering increases.
Ford's chief financial officer, Lewis Booth, said Wednesday night the company would decide this month and make an announcement in early September.
Among states, Michigan has taken most advantage of the program, requesting more than $44 million in vehicle vouchers. California dealers had requested nearly $40 million in vouchers, and Ohio had sought nearly $38 million.
Senate passage would send the legislation to the White House for Obama's signature and assure consumers there will be no interruption in the program that has led to packed car dealerships nationwide.
The deals are aimed at boosting auto sales, which have been at their lowest levels in two decades.
WASHINGTON – The Senate reached a deal on saving the dwindling "cash for clunkers" program late Wednesday, agreeing to vote on a plan that would add $2 billion to the popular rebate program and give car shoppers until Labor Day to trade in their gas-guzzlers for a new ride.
Following lengthy negotiations, Senate Majority Leader Harry Reid said Democrats and Republicans had agreed to vote on the plan Thursday, along with a series of potential changes to the bill, which was passed by the House last week. Reid has said Democrats have enough votes to approve the measure and reject any changes that would cause an interruption in the rebates of up to $4,500.
Reid said the agreement "accomplishes what we need to accomplish."
Late Wednesday, it was not clear that any of the proposed amendments stood a chance of passing. Some of them included placing an income limit on those benefiting from the vouchers and requiring the government to sell off its stakes in General Motors Co. and Chrysler Group LLC.
Any Senate changes to the bill would require another vote in the House, something that couldn't take place until the House returns in September from a monthlong recess.
The government said Wednesday that more than $775 million of the $1 billion fund had been spent, accounting for nearly 185,000 new vehicles sold. President Barack Obama has said the program would go broke by Friday if not replenished by Congress.
Administration officials have estimated the additional $2 billion could fund another 500,000 vehicle sales and last into Labor Day.
That's the same day the Senate was to follow the House into the August recess, a looming break that Senate leaders often use to prod their colleagues past standoffs.
"We all acknowledge there's a significant majority that want to move forward with this legislation," Reid, D-Nev., said earlier in the day, adding that he has the votes to approve the House-passed version as is.
His Republican counterpart, Sen. Mitch McConnell of Kentucky, concurred that the matter would be settled soon. And objectors conceded they do not have the votes to force all of the changes they want, or to block the House version of the bill.
"My guess is, at the end of the day, it will pass," said Sen. John Thune, R-S.D., who called it an example of "Congress choosing winners and losers among industries."
The program offers car buyers rebates of between $3,500 and $4,500 for trading in their gas-guzzlers for new, higher-mileage models.
The new funding would triple the cost of $1 billion rebate program and give as many as a half-million more Americans the chance to grab the new car incentives through September.
Car companies have credited the clunkers program with driving up sales in late July. Most consumers are buying smaller, more fuel-efficient vehicles under the program, according to a list of the top-10 selling cars released Wednesday by the National Highway Traffic Safety Administration.
Among manufacturers, General Motors Co. had the largest share, accounting for 18.7 percent of new sales, followed by Toyota Motor Corp. with 17.9 percent. Ford Motor Co. was third with 16 percent of the sales. Detroit automakers represented 45.3 percent of the total sales while Japan's Toyota, Honda Motor Co. and Nissan Motor Co. accounted for 36.5 percent.
The Toyota Corolla is the top-selling vehicle on the list, followed by the Ford Focus, Honda Civic, Toyota Prius and the Toyota Camry. There is one SUV on the list, the Ford Escape, which also comes in a hybrid model that can get up to 32 miles per gallon. Six of the top-10 selling vehicles are built by foreign manufacturers, but most are built in North America.
If the Senate approves the additional money, it's likely to lead automakers to increase production and bring back laid-off workers. Many automakers reported low inventories due to increased sales from the program at the end of July. Already Hyundai Motor Co. has added a day of production to its Montgomery, Ala., plant, and Ford is considering increases.
Ford's chief financial officer, Lewis Booth, said Wednesday night the company would decide this month and make an announcement in early September.
Among states, Michigan has taken most advantage of the program, requesting more than $44 million in vehicle vouchers. California dealers had requested nearly $40 million in vouchers, and Ohio had sought nearly $38 million.
Senate passage would send the legislation to the White House for Obama's signature and assure consumers there will be no interruption in the program that has led to packed car dealerships nationwide.
The deals are aimed at boosting auto sales, which have been at their lowest levels in two decades.
08-05-2009, 10:59 PM
#32
Senior Member
Join Date: 06-29-2008
Location: Crystal Lake
Posts: 839
08-06-2009, 03:47 PM
#33
Founding Member
Join Date: 11-23-2007
Location: Texas
Posts: 8,210
GM Has Sold the Most Cars Under ‘Cash for Clunkers’ Program
By Angela Greiling Keane
Aug. 5 (Bloomberg) -- General Motors Co., the largest U.S. automaker, has the most sales under the “cash-for-clunkers” program, according to Transportation Department data released today.
Detroit-based GM sold 18.7 percent of the cars purchased under the plan. Toyota Motor Corp., based in Toyota City, Japan, had the second-most sales with 17.9 percent and Dearborn, Michigan-based Ford Motor Co., was third with 16 percent. The agency released data on the each automakers’ share today, a day after providing a list showing that four of the top five models sold were made by foreign automakers.
http://www.bloomberg.com/apps/news?p...d=akjL3wiDVfnU
By Angela Greiling Keane
Aug. 5 (Bloomberg) -- General Motors Co., the largest U.S. automaker, has the most sales under the “cash-for-clunkers” program, according to Transportation Department data released today.
Detroit-based GM sold 18.7 percent of the cars purchased under the plan. Toyota Motor Corp., based in Toyota City, Japan, had the second-most sales with 17.9 percent and Dearborn, Michigan-based Ford Motor Co., was third with 16 percent. The agency released data on the each automakers’ share today, a day after providing a list showing that four of the top five models sold were made by foreign automakers.
http://www.bloomberg.com/apps/news?p...d=akjL3wiDVfnU
08-06-2009, 04:34 PM
#35
Founding Member
Join Date: 11-23-2007
Location: Texas
Posts: 8,210
most clunked
From the story I posted:
Ford’s Explorer was the most popular trade-in vehicle, followed by Ford’s F150 pickup and Chrysler Group LLC’s Jeep Grand Cherokee. All of the top 10 trade-in models are made by the top three U.S. automakers.
Ford’s Explorer was the most popular trade-in vehicle, followed by Ford’s F150 pickup and Chrysler Group LLC’s Jeep Grand Cherokee. All of the top 10 trade-in models are made by the top three U.S. automakers.
08-06-2009, 05:08 PM
#36
Banned
Join Date: 10-24-2006
Location: The Show-Me State
Posts: 1,761
It's interesting that GM has sold the most cars due to the CARS program considering the Cobalt is the only model that made the Top 10 list. That's a lot of Cobalts!
Sad thing is all the otherwise nice cars being destroyed that still have a lot of life left. Last night on the news they had an early '00s Grand Cherokee with 80k on it that was being decommissioned. I wish the government would have included some sort of charity option in the program too.
Sad thing is all the otherwise nice cars being destroyed that still have a lot of life left. Last night on the news they had an early '00s Grand Cherokee with 80k on it that was being decommissioned. I wish the government would have included some sort of charity option in the program too.
08-06-2009, 05:19 PM
#37
Founding Member
Join Date: 11-23-2007
Location: Texas
Posts: 8,210
It's interesting that GM has sold the most cars due to the CARS program considering the Cobalt is the only model that made the Top 10 list. That's a lot of Cobalts!
Sad thing is all the otherwise nice cars being destroyed that still have a lot of life left. Last night on the news they had an early '00s Grand Cherokee with 80k on it that was being decommissioned. I wish the government would have included some sort of charity option in the program too.
Sad thing is all the otherwise nice cars being destroyed that still have a lot of life left. Last night on the news they had an early '00s Grand Cherokee with 80k on it that was being decommissioned. I wish the government would have included some sort of charity option in the program too.
Like I said earlier the tree huggers in the gov wanted these vehicles DAA (Dead After Arrival).
08-06-2009, 10:49 PM
#39
Platinum Member
Join Date: 01-09-2007
Location: SE USA
Posts: 15,900
Hate to see good older cars & trucks getting 'clunked'
But it does get some to thinking....I have thought about it..But don't have a clunk to dump..
My SS-10 gets too good of gas mileage & IMO is worth more than the clunk money.
If I could get about $9K on trade I'd be getting the HHR Panel, I have long wanted..
But it does get some to thinking....I have thought about it..But don't have a clunk to dump..
My SS-10 gets too good of gas mileage & IMO is worth more than the clunk money.
If I could get about $9K on trade I'd be getting the HHR Panel, I have long wanted..
