Cash For Clunkers: Upto $4500 For Your Gas Guzzling SUV.June 23rd, 2009 - 6:32 pm ICT by GD
The US Senate and the House of Representatives have passed the Consumer Assistance to Recycle and Save Act,2009 also know as the Supplemental Appropriations Act, 2009. This is referred to as the ‘Cash for Clunkers‘ plan and is aimed at stimulating the demand for environment friendly vehicles. Consumers while purchasing new passenger vehicles would pocket a neat $3,500 to $4,500 voucher, as assistance from the Government, if they ‘trade-in’ their old gas-guzzling SUVs and other vehicles. There are stipulated specifications regarding the value of the voucher to be given to the consumer based on age of the SUV, its mileage and duration of ownership. To assist the public a new website, www.cars.gov, has also been launched. This site is aimed at dispersing necessary information to the consumer, on the process of exchange as well as other specifications.
It is being estimated that around 250,000 people would be benefited from this scheme and that it would act as a stimulus for sale of new cars. As observed in Europe across nine countries, similar schemes have augmented car sales by half a million.
Though the on the whole this scheme or plan seems to be good, yet it has got its own share of criticism. According to the critics, as this $1 billion plan is scheduled to be implemented in August this year, it will be missing out on the months of June-July, which have been strong car-sales months traditionally. But the general public seem to be happy about it as one such gentleman has said, “I think it will be good for the car manufacturers and it will create excitement for consumers.”
Tags: 1 billion, car manufacturers, car sales, consumer assistance, consumers, duration, excitement, gentleman, half a million, house of representatives, mileage, new cars, other vehicles, passenger vehicles, stimulus, supplemental appropriations act, suvs, us senate, voucher, website www