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Cash for Clunkers deal drives auto sales
Cash for Clunkers deal drives auto sales
Posted Tuesday, Aug 4, 2009, 1:42 pm in Employee News
U.S. auto sales rose to their highest levels of the year in July as consumers rushed to trade in older vehicles under a government incentive program that has become so popular it is in danger of running out of money, the Washington Post reported.
Automakers issued their sales reports Monday, raising hope that the sagging auto industry is headed for a recovery, although some analysts cautioned that a turnaround would still be slow, the Post said. The uptick comes as Congress considers whether to provide up to $2 billion more for trade-in incentives to keep the effort going, the paper said.
George Augustaitis, market analyst for U.S. auto sales at auto consulting firm CSM Worldwide, told the paper that monthly sales numbers showed the government’s clunker program “really drove people into dealerships.” But he predicted that the program’s popularity could wane if the economy remains mired in recession and consumers remain reluctant to spend, the story said. (Washington Post)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
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