Friday, August 21, 2009

CARS aka Cash For Clunkers to end Monday, just as plants spool up production?

So, news today (actually I think it was yesterday) is that the Feds have decided to end the CARS program Monday night. There's been debate about how much of a sucess the program has been, but in my opinion it's been a relatively good thing. I've heard that it's just pushed people's purchase timetable forward, steeling future sales, and that may be true. There's been criticism of how well the government has administered the program and dealers have concerns about payment. Pundits will be picking apart the details like a Thanksgiving Turkey for months to come. I missed my chance with this program, but there's still hope for me getting a new vehicle none the less, but I'll post on that Monday.

What I find amazing is the timing for the government canceling the program, it seems very sudden. Earlier this week it was anounced that the program was doing so well that manufacturers, including Ford and GM were ramping up production to meet demand.
All week I've been seeing more and more TV commercials from almost every manufacturer saying you can purchase or lease a new model under the Cash For Clunkers. And now they're pulling the plug? Just over 72 hours left to get your deal done. Will dealers be open on Sunday to take advantage of this?

Let's not forget that dealers have been pulling out of the program because of concerns about being paid for deals already in the pipeline. I went to a local Jeep/Chrysler dealer on Tuesday and was told they're no longer in the program.
I was a wild ride while it lasted and we'll see in a few months how good it was overall, but from my perspective I'd say it has to be the best spent stimulus money so far.

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