"'Cash for Clunkers' Wins Over U.S. Drivers, Dealers"

"PHOENIX -- Having driven the equivalent of six smoke-belching laps of the planet, Tony Metzler figured his aging Chevrolet Blazer SUV would not make a good trade for a new car. Until now that is.

With a $1 billion federal "Cash for Clunkers" program that pays consumers $3,500 or $4,500 in credit to swap aging gas-guzzlers for new, more fuel efficient models, he made the plunge. ...

The program signed into law by President Barack Obama in June offers a trade-in credit of up to $4,500 to owners of cars built since 1984, with fuel economy of 18 miles per gallon or less."

Tim Gaynor reports for Reuters July 9, 2009.

Friday, July 10, 2009