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WEDNESDAY, NOVEMBER 25, 2009
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Clunker Cash Turbo-Charges July Dealer Biz

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(Newser) – Last week's rush of demand for new cars may may have exhausted the $1 billion earmarked for the "cash for clunkers" program, but struggling auto dealers saw their sales zoom, reports Reuters. Though exact figures aren't yet available, the program was certain to drive car sales to the highest levels of the year, beyond 10 million on an annualized basis, AutoNation estimates. One analyst predicted a new annualized sales rate of up to 13 million vehicles.

June was the year's previous high, with 9.7 million on an annualized basis. Just 4.8 million vehicles were sold in the first half of 2009, after 13.2 million moved last year.

A sign welcoming consumers to participate in the
A sign welcoming consumers to participate in the "Cash for Clunkers" program is posted outside the Pride Chevrolet dealership in Lynn, Mass.   (AP Photo/Charles Krupa)
2009 Dodge Challengers sit at a Dodge dealership in the south Denver suburb of Littleton, Colo.
2009 Dodge Challengers sit at a Dodge dealership in the south Denver suburb of Littleton, Colo.   (AP Photo/David Zalubowski, File)
Car and truck buyers looking to ditch their gas guzzlers to take advantage of the government's program, boosted sales in showrooms across the country last month.
Car and truck buyers looking to ditch their gas guzzlers to take advantage of the government's program, boosted sales in showrooms across the country last month.   (AP Photo/Rick Bowmer)
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Timinator2K
Aug 3, 09 10:54 AM CDT
Where do I turn in the National Clunkers of Pelosi, Reid and PrezBO for my Clunker Cash??? Reply
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CyCarConsulting
Aug 3, 09 12:23 PM CDT
Everyone knows now how successful the Clunker program has been. Now think about this. In all the flurry to satisfy those buyers, used car inventory, and used car buyers have been neglected. That means starting now, there are aged units coming up that will have to be sold, for whatever the dealerships can get. As soon as the Clunker program ends ,or at the end of this month ,whichever comes first, there will be deals on those aged units. If you are in the market for a used car, I would suggest you visit your local dealer. Ask the salespeople to show you the aged units. Most likely a bonus on them for the salespeople, and managers ,will be compensation enough , and the likelyhood of not worrying about any profit on the car. A deal for you, if you negotiate hard. You may not even have to negotiate, some stores will have marked the cars down already.The store will lose money, but those units must be sold regardless. Reply
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