US Suspending Cash for Clunkers: It's Too Popular

Reid engineers deal for vote tomorrow, beating recess deadline

(NEWSER) - The Senate has reached a deal to extend the "cash for clunkers" program through Labor Day, the Detroit News reports. Majority leader Harry Reid capped days of arm-twisting with an announcement tonight that the chamber will vote tomorrow on a measure adding $2 billion to the unexpectedly popular program. The agreement with Republican opponents of the legislation "accomplishes what we need to accomplish," Reid said. More»

(NEWSER) - The rumors of the “cash for clunkers” deal’s demise have been greatly exaggerated, the White House said today, promising that the trade-in program will continue even after consumers have used up its allotted $1 billion. “If you were planning on going to buy a car this weekend using this program, the program continues to run,” said spokesman Robert Gibbs. More»

Half of those that appealed will be allowed to stay open

(NEWSER) - About 600 GM dealerships are getting a second life. Of the 1,160 dealers who appealed orders to shut down as part of bankruptcy proceedings, approximately half will be allowed to stay open. But one dealer tells the Detroit News that it's no cause for celebration until the conditions are made clear, possibly as soon as today. More»

Auto giant speeds $1.2B per quarter repayment sked

(NEWSER) - General Motors will start repaying its $6.7 billion debt to the US and Canadian governments early, with $1.2 billion quarterly payments beginning next month, reports the Detroit News . The accelerated repayment plan is a strong indication that finances are looking up for the troubled automaker, which today posted a $1.2 billion loss in its first quarterly report since leaving bankruptcy in July—far better than anticipated in what the AP notes is a sign the automaker's turning around. More»

(NEWSER) - Now that American automakers have turned it around, you’re planning to buy an American car, right? No? Well, you should be, writes Jim Montavalli of Money Watch, and he’s got six cars worth snapping up.

• Ford Fusion: A fun-to-drive mid-size sedan that’s getting gushing reviews—Consumer Reports calls it “one of the very best cars produced by Detroit.”
• Chevy Malibu: An affordable family car that makes few compromises, performing just a bit below a sports sedan.