Alliance clarifies ‘Cash for Clunkers’ program status

Posted on Friday, July 31st, 2009 at 10:23 AM EDT.

According to Charles Territo, Sr. Director of Communication at the
Alliance of Automobile Manufacturers, the U. S. Department of Transportation is advising the following:

• The CARS program is not suspended
• “Cash for Clunkers” deals are continuing and all legitimate deals concluded before a formal suspension is announced (if that happens) will be honored
• The Obama Administration is looking at all options to add funds to the program
• As of Friday morning, $250 million worth of vouchers was committed based on submitted transactions
• NHTSA is doubling the number of personnel reviewing transactions in order to speed up the reimbursement process

This entry was posted on Friday, July 31st, 2009 at 10:23 AM EDT and is filed under Industry. You can follow any comments to this entry through the RSS 2.0 feed. Comments are currently closed.