“Cash For Clunkers” Ending Soon

You know it’s a slow news day when you stoop to reporting that the C4C program is going to be wound down.

The program was supposed to end after September 7 but may be terminated sooner. Transportation Secretary, Ray LaHood, said he would announce in two days the exact termination date as well as how much money is left from the original appropriation of $3 billion. He also said that all dealers would be reimbursed as soon as possible for sales under the program.

Indications have been that the initial rush to trade in cars under the program have moderated significantly. It will be interesting to see some hard data on that one as well as the effect that the program had in simply accelerating planned car purchases.

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