The program, formally known as the Car Allowance Rebate System, will end at 8 p.m. today. It was supposed to have run through October, but its unexpected popularity with consumers led to an early draining of the $3 billion allocation made by Congress.
Through the program, car buyers were given credits of up to $4,500 toward a new car when they traded in one with lower fuel economy.
When it's over, estimates are that about 750,000 autos will have been sold, and an equal number of gas guzzlers will have been removed from the road and junked.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment