And just like that, the Cash for Clunkers program is being suspended. Apparently it was so popular that the National Highway Traffic Safety...
And just like that, the Cash for Clunkers program is being suspended. Apparently it was so popular that the National Highway Traffic Safety Administration is way behind in vetting all of the transactions, and dealers may have actually already surpassed the 250,000 sales budgeted into the program.The program barely made it a week. Everyone seems a little surprised. Chuck Schumer said: "This was a very successful program, maybe even too successful. The program should continue, but perhaps with a tune-up so that we get the most stimulus, conservation and efficiency for the buck."I think that makes sense. I'd suggest making the vouchers a little smaller so more people can participate and also raising the bar with the efficiency targets.UPDATE: As noted by my colleague Morgan, and by Christina below, Congress is going to try to keep Cash for Clunkers going in some form.