Cash For Clunkers - Terminats on August 24th!

Secretary LaHood Announces Wind Down to Hugely Popular CARS Program

U.S. Transportation Secretary Ray LaHood announced Thursday that after a wildly successful run, the cash for clunkers program willcome to a close on Monday, August 24th at 8 p.m. EDT.

“This program has been a lifeline to the automobile industry, jump starting a major sector of the economy and putting people back to work,” Secretary LaHood said. “At the same time, we’ve been able to take old, polluting cars off the road and help consumers purchase fuel efficient vehicles.”

As of today, the CARS program has recorded more than 457,000 dealer transactions worth $1.9 billion in rebates.

The Car Allowance Rebate System, as it is officially known, has sparked intense interest, filling auto showrooms with buyers and revitalizing manufacturing plants. As a result of the program, automotive inventory has been depleted and both General Motors and Ford are ramping up production, adding shifts and rehiring laid off workers.

“It’s been a thrill to be part of the best economic news story in America,” Secretary LaHood said. “Now we are working toward an orderly wind down of this very popular program.”

The program has provided rebates of up to $4,500 when people turned in their clunkers for fuel-efficient vehicles. Most consumers have turned in trucks and SUV’s in exchange for passenger cars, with an improved gas mileage of about 60 percent.
Secretary LaHood said the Monday night end date will allow car dealers and buyers plenty of time to finalize purchases and submit applications for rebate from the remainder of the $3 billion provided by Congress. Based on conservative estimates of valid transactions so far, DOT analysts have projected that there is enough money to continue accepting submissions until the Monday deadline.

Applications for rebates will not be accepted after 8 p.m. EDT Monday and dealers should not make further sales without receiving all the necessary paperwork from their customers. Dealers are also strongly advised to submit complete applications, which will expedite payment. Dealers will still be able to resubmit rejected applications after the deadline. The Department of Transportation is continuing to expand the number of people processing dealer applications for rebates by adding federal workers to the outside contractors currently at work.

For more information, please call Bernardi Honda at 800 254-0013 or visit Bernardi Honda at 960 Worcester Road in Natick. MA

American Honda Sales For July 2009

On August 3, 2009, American Honda Motor Co., Inc., announced July vehicle sales for their Honda Division of 106,028.

Sales of the fuel-efficient Honda Civic increased 3.1 percent to 30,037. Honda CR-V, a best-seller in the crossover utility vehicle segment, increased sales by 9.9 percent to 19,151.

"Strong interest from the CARS (aka Cash for Clunkers) program increased dealership traffic late in the month and contributed to Civic and CR-V sales gains," said John Mendel, executive vice president of American Honda Motor Co., Inc. "July was our highest-volume month so far this year."

Cash For Clunkers Infused with $2 Billion

On Thursday night the Senate approvded the long awaited $2 billion extension to the extremely successful "Cash For Clunkers" program. Officials expect the additional funding will carry the program through Labor Day and will be adequate for a half of million new cars to be purchased.

In addition to saving consumers $3,500 to $4,500 on the cost of a new vehicle, MSNBC estimates the average Cash For Clunkers buyer will save $700 - $1,000 per year in fuel costs.

The Cash For Clunkers program is very complex and tedious for a new car dealership to properly administer. As a result, some large local Boston dealers have withdrawn from the program. Bernardi Honda, on the other hand, is committed to the Cash For Clunkers program and will continue to participate in it as long as government funding for the program is available. In suport of this commitment, Bernardi Honda has truck loads of new Honda cars, SUVs, trucks, and vans delivered daily to its large storage facility adjacent to its dealership.

Cash For Clunkers Funding Extension to be Passed Today?

A number of sources are reporting that the long awaited $2 billion Cash For Clunkers extension bill, passed by the House last week, will be voted on today by the Senate. USA Today reports today that Majority Leader Harry Reid, D-Nev., said he has enough votes to pass the bill, following lengthy negotiations with lawmakers from both parties.

The Obama administration said Wednesday that about $775 million of the original $1 billion allocation to the Car Allowance Rebate System, or CARS, has been spent, and applications for 185,000 rebates have been processed. The $2 billion extension is thought to be adequate to fund the program through Labor Day.

Unlike many dealers who are reporting critical shortages in inventory as a result of the high demand generated by the Cash For Clunkers program, Bernardi Honda continues to receive daily truckloads of new vehicles to replenish its most popular Honda cars, trucks, Minvans, and SUVs.

Cash For Clunkers Funding Likely

The Associated Press reported on Tuesday, August 4, that Senate Majority Leader Harry Reid believes he has the votes to pass the $2 billion "cash for clunkers" measure already approved by the House. This bill will extend the Cash for Clunkers program whose original $1 billion is expected to be exhausted by Friday.

"We'll pass 'cash for clunkers' before we leave here," Reid said after Democrats lunched at the White House with Obama, who has vigorously pushed for the extension as a much-needed boost for the economy. Asked whether he had the votes to pass the measure, Reid replied, "Yes."

Due to the huge demand by consumers, Bernardi Honda has several trucks of new Honda cars, trucks, vans, and SUVs delivered each day. As might be expected, the Honda Honda Insight and Honda Hybrids are in heavy demand by Cash For Clunkers customers as are the Honda Fit, Civic, and Accord. Many customers are also trading in their fuel-thirsty big box SUVs for Honda's fuel efficient Pilot, CR-V, and Element SUVs. Minivan customers are also creating a demand for the Odyssey.

Cash For Clunkers August 3 Funding Status

On August 3, the Wallstreet Journal quoted Transportation Secretary Ray LaHood as predicting that the Obama administration "...could be forced to halt as early as Tuesday the "Cash for Clunkers" program because its 1 billion dollar budget would be depleted.

The Senate narrowly approved the initial Cash For Clunkers bill. Feinstein and Collins, who voted for the original bill, were on record as having said any extension to the Cash For Clunkers bill should push consumers to buy even more fuel-efficient vehicles and also to allow people to buy fuel-efficient used vehicles. Sen. On August 3, ABC News reported that with the recent "...blessing of senators Diane Feinstein, D-Calif., and Susan Collins, R-Maine, passing a clunkers refill by the end of the week suddenly seemed a lot more likely".

So by Friday we may have an extension of the Cash For Clunkers bill - with funding through the end of August. On the other hand, we may receive word as early as TODAY that the Cash For Clunkers program has been terminated.

Therefore, if you are thinking about taking advantage of the Cash For Clunkers program, Bernardi Honda suggests that you act today while funding is available as is a good selection of new Hondas at Bernardi Honda in Natick, MA.