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Bill Freehling is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Bill Freehling.

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‘Cash for clunkers’ money running out?

Several media outlets are reporting tonight that the federal government is on the verge of suspending the "cash for clunkers" program, which allows people to get up to a $4,500 rebate on the purchase of a new vehicle if an older gas guzzler is traded in. Area car dealers report that the program has been very popular — maybe too popular. The government allocated $1 billion toward the program, and many reports are saying that the money is already gone. Here is one such report. It looks like auto dealers are lobbying to get more money for the program.

I’ll look into this more in the morning.

Permalink: http://news.fredericksburg.com/businessbrowser/2009/07/30/cash-for-clunkers-money-running-out/

  • lgross

    … as a “failure” because the money ran out as
    opposed to it being wildly successful at it’s
    intended purpose – to get folks to buy new cars..
    help the dealers… encourage credit and help the
    automakers….

    so the program not only worked – it worked very
    well and if we like it.. and think it is useful.. why
    not expand/extend it?

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