The Cash for Clunkers ala CARS (Car Allowance Rebate System) has proven to be a roaring success. The program experienced such a tremendous opening it is almost out of money. The House of Representatives passed legislation with gave the program an additional $2 billion in funding. The Senate has not yet acted on the legislation.
One beneficiary from the program is Ford. The domestic automaker identified the promotion as a major reason why it experienced its first monthly year-over-year sales increase in close to two years.
Sales figures for General Motors and Chrysler for the month of July will also show improvement due to the government program. Even Hyundai said that its sales were up 15 percent in July due to the program.
via Detroit News
Go Ford!!! I just bought a Fusion through CFC’s. Traded in my ’95 Honda. Got a great dealer through shoplowerprices.com. I hope the whole program brings the Big 3 back to the top. We’ll see.
toyota’s going to do fine. remember: the corolla’s one of the most frequent car traded for under the cash for clunkers program.
I’m glad to see Ford finally posting some profit, even it’s only for the month and only 2%. Still this goes to show that Ford is pushing strong and going down the right path to success. May Ford fly and Toyota die….well not really but u get the point. HAHA.