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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: Cash for Clunkers

Cash for Clunkers stories: 36 news summaries

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 GM to Repay Bailout Early, 
 Posts (Smaller) $1.2B Loss 

Auto giant speeds $1.2B per quarter repayment sked

Nov 16, 09 6:48 AM CST
(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... More »

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General Motors • Detroit • auto industry • auto bailout • Cash for Clunkers

Most Replaced Clunker With ... Another Guzzler Like This

Most common trade was old pickup (15-17 mpg) for new (1-3 better)

Nov 4, 09 8:50 PM CST
(Newser) - Think most who traded in a clunker under the government’s fuel-efficiency incentive program are now driving a hybrid? Guess again: The most common swap was an old, gas-guzzling pickup for a new, just-slightly-less-gas-guzzling pickup, AP analysis finds. Ford’s F150 is a prime example—it gets 1-3 mpg more... More »

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fuel efficiency • Toyota Prius • Ford F 150 • pickup trucks • Obama administration • Cash for Clunkers

 Ford Posts $1B Q3 Profit 



Surprise swing to black driven by cost cuts, Cash for Clunkers

Nov 2, 09 6:41 AM CST
(AP) - Ford earned $1 billion in the third quarter, fueled by US market share gains, cost cuts, and the government's Cash for Clunkers rebates. The automaker, reporting net income of $997 million, or 29 cents per share. says it now expects to be "solidly profitable" in 2011. The company lost... More »

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United Auto Workers • US automakers • Ford Motor Co. • Cash for Clunkers

White House Takes Crack at Car Website

Blog post assails Edmunds.com's view
of 'clunkers' initiative

Oct 30, 09 2:10 PM CDT
(Newser) - The administration has picked another fight with a media outlet, but not one that employs Glenn Beck. The White House blog took aim at Edmunds.com, which had posted a scathing assessment of the “Cash for Clunkers” program. The snarky post argues that Edmunds must have been “covering... More »

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White House • blog • Obama administration • Cash for Clunkers • Edmunds.com

ANALYSIS

US GDP Jump Hollow if Unemployment Keeps Rising

... and it's still rising faster than before recession

Oct 29, 09 8:07 PM CDT
(Newser) - News that the US gross domestic product jumped 3.5% in the third quarter cheered investors and others, but the cheers will ring hollow if unemployment keeps rising, John Authers writes. Consumer spending rose even as disposable income fell—“ not a pattern that can be sustained for long, and... More »

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recession • unemployment • consumer spending • economic stimulus package • consumer confidence index • US gross domestic product • financial crisis • Cash for Clunkers • disposable income

Clunkers Drives Ford's August Sales Up 17%

Hyundai surges 47%; GM drops 20% and Chrysler 17%

Sep 1, 09 1:56 PM CDT
(Newser) - Cash for Clunkers reverberated through August auto sales reports released today, with Ford and Hyundai scoring big jumps, the Wall Street Journal reports. The winners and losers:
  • Ford's light vehicle sales rose 17% year-over-year, with the Focus and Escape both in the top eight most popular vehicles purchased through
... More »

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Chrysler • Ford • auto industry • auto sales • Cash for Clunkers

Cut-Rate Hyundai Gets Major Mileage Out of Downturn 

Once a joke, South Korean automaker is No. 4 in global sales

Sep 1, 09 8:35 AM CDT
(Newser) - As the recession batters most automakers, onetime industry laughingstock Hyundai is riding high. The South Korean company just had its best retail month ever, the Washington Post reports. Its share of the US market rose from 3.6% to 4.6%, and it passed Ford to become fourth in global... More »

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recession • Hyundai • auto industry • Cash for Clunkers

(Newser) - The final numbers for the Cash for Clunkers are in, and they’re pretty rosy, the Los Angeles Times reports. Dealers had until yesterday to file for rebates, and the total was 690,114 new cars sold—and 690,114 clunkers traded in—for a total of $2.9... More »

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Toyota • auto industry • US automakers • Ford Explorer • gas mileage • Cash for Clunkers • Car Allowance Rebate System • foreign automakers

(Newser) - If you missed out on cashing in on that clunker in your driveway, your next chance may be no farther than the kitchen, USA Today reports. Stimulus funds that will give consumers rebates as high as $200 for replacing old, inefficient appliances with newer models are due to start flowing... More »

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recycling • electricity • washers • clothes dryers • kitchen • utilities • refrigerator • home appliances • Cash for Clunkers • freezer • stimulus funds • women's issues

(Newser) - Just as the "cash for clunkers" program sparked a boom in auto sales, its cancellation will likely depress the industry, CNNMoney reports. As of today, the last day of the government-funded incentive, rebate applications for 625,000 trade-ins totaling $2.58 billion had been submitted. “We're definitely going... More »

MORE ABOUT:
recession • auto industry • car dealers • automobile • Cash for Clunkers • federal funding • Car Allowance Rebate System • customer

(Newser) - Cash for Clunkers revved into overdrive during its final weekend, the New York Times reports. After Thursday’s announcement that the Car Allowance Rebate System would end tomorrow at 8pm, consumers across the country raced to dealerships, resulting in long lines, epic haggling sessions, and hours of overtime work. “... More »

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auto industry • car dealers • auto sales • Cash for Clunkers • Car Allowance Rebate System

 'Clunkers' Ends Monday 


Aug 20, 09 4:38 PM CDT
(AP) - The Obama administration will end the $3 billion Cash for Clunkers program at 8pm Monday, giving car shoppers a few more days to take advantage of big government incentives. Dealers have complained about sluggish reimbursements, but Transportation Secretary Ray LaHood said the program has been "a lifeline to the... More »

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auto industry • US automakers • Ray LaHood • Cash for Clunkers

(Newser) - General Motors will start making temporary loans to dealers who have yet to be reimbursed by the federal government under the Cash for Clunkers plan, the Wall Street Journal reports. Dealers, some now irate, essentially did the same thing for customers participating in the trade-in plan—covering the government... More »

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General Motors • auto industry • loan • car dealers • Federal government • automobile • reimbursement • Cash for Clunkers • Car Allowance Rebate System • cash advance

(Newser) - The Cash for Clunkers program certainly isn’t breaking any speed limits, according to the National Automobile Dealers Association, which believes the government is sitting on millions of dollars in dealer applications waiting to be reimbursed. “It is ludicrous at this point,” says the group’s president. “... More »

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Treasury Department • car dealers • Cash for Clunkers

OPINION

Pry My Clunker From 'My Cold, Dead Fingertips'


Aug 18, 09 3:40 PM CDT
(Newser) - Some cars’ gas mileage is good enough to make them ineligible for the cash-for-clunkers program—but that’s not the only reason David Holahan doesn’t want to turn in his old rides. “I’m all for stimulating the economy, cleaning air, and improving fuel economy,” he writes... More »

MORE ABOUT:
environment • used cars • gas mileage • automobile • Cash for Clunkers • federal programs • Car Allowance Rebate System • junk yard

 Used-Car Dealers: 
 Program's a Clunker 

Other groups also unhappy with government rebates

Aug 14, 09 4:39 PM CDT
(Newser) - The Cash for Clunkers program has proven to be a shot in the arm for the new-car market, but not everyone's a fan. Used-car dealers say their business is suffering, the Sacramento Bee reports. "The used side sort of slipped" since the program started, said one Honda dealership manager.... More »

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auto industry • car dealers • auto sales • used cars • Cash for Clunkers

MARKETS

 Retail Sales Curb Rally; 
 Dow Climbs 37 

July retail sales negative despite 'Cash for Clunkers'

Aug 13, 09 3:20 PM CDT
(Newser) - A drop in retail sales reported today cooled off yesterday’s post-Fed-meeting rally, the Wall Street Journal reports. Stocks ended with modest gains as the Commerce Department reported a 0.1% drop in July retail sales despite increased car sales under the “Cash for Clunkers” program. The Dow rose... More »

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Dow Jones • Nasdaq • retail sales • auto industry • S&P 500 • Cash for Clunkers

(Newser) - The Obama administration is hyping the cash-for-clunkers program as a chance for Americans to buy more fuel efficient cars, but not all buyers are going greener. Bulky SUVs and even trucks can be purchased with the $3 billion government subsidies, reports AP. Washington is refusing to release detailed records of... More »

MORE ABOUT:
fuel efficiency • auto industry • Cadillac • car dealers • Hummer • Cash for Clunkers


 How to Get the Most 
 Out of Your 'Clunker' 

Time offers tips for buyers considering CARS

Aug 10, 09 5:38 PM CDT
(Newser) - Cash for Clunkers has become a smashing success—but is it right for you? Time explains how to get the most out of your clunker:
  • First, make sure your vehicle really is a “clunker”: Cars that get more than 18 mpg, don't run, haven't been registered and insured
... More »

MORE ABOUT:
automaker • hybrid car • vehicle • US automakers • Cash for Clunkers • Car Allowance Rebate System

opinion

Cash for Clunkers: Reward for the Shortsighted


Aug 8, 09 10:52 PM CDT
(Newser) - Anna Shaff drives a 1986 Volvo station wagon that is a clunker in every sense of the word—except the official one. It doesn't qualify for the Cash for Clunkers program, and that has Shaff a little ticked. After "almost 24 years of frugality," she'd love to get... More »

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Cash for Clunkers

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