Word: tradings
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Federal Government estimates 240,000 vehicles have already sputtered off the roads and into dealers' lots as part of its cash-for-clunkers program, in which consumers receive a subsidy of up to $4,500 when they trade in their older, less efficient cars for new models. The House of Representatives has already moved to keep the program going by expanding its funding, and the Senate is considering a similar measure this week. But while the initiative has proved highly popular with consumers, critics are raising concerns about the economic and environmental hazards inherent in the process of ruining...
...recyclers who process the cars aren't so lucky, according to Michael Wilson, executive vice president for the Automotive Recyclers Association (ARA), a trade group that represents 4,500 recyclers across the country. Because of the way dealers must destroy each clunker's engine, fewer parts are salvageable - which means less profit for the recyclers who process the automobiles. Although 60% of a car's salvage value comes from the engine and drive train, Wilson said the original cash-for-clunkers plan - the formal name is the Car Allowance Rebates System (CARS) - called for the obliteration of both. While...
...Some of the biggest gains during July were posted by small foreign carmakers such as Subaru, Hyundai and Kia, whose sales jumped 34%, 22% and 9%, respectively. Hyundai in particular was well prepared for the program from a marketing standpoint, having encouraged dealers to accept qualifying trade-ins nearly two weeks before the U.S. Department of Transportation launched its official cash-for-clunkers website. The payoff is already filtering through to workers. "Hyundai Motor Manufacturing Alabama is now increasing production by returning to a five-day workweek in July after being on a shortened workweek since mid-October," said Dave...
...which sold more vehicles in July than in June - and had a nice 16% improvement in pickup sales - lavished praise on the program and pressed for its continuation. "The government's program is doing what it is designed to do - spur consumers to trade in older gas guzzlers for new, fuel-efficient vehicles," said Mark LaNeve, GM vice president for sales. The Department of Transportation confirmed the fuel-efficiency gains on Monday, Aug. 3, noting that of the 120,000 rebate applications processed so far, the cars purchased have been far more fuel-efficient than the minimum requirements to qualify...
...spending to strengthen social safety nets and boost domestic consumption, such as subsidies for rural consumers to buy selected electronic goods. In an echo of America's wildly popular cash-for-clunkers car program, a new initiative grants consumers in four provinces and five cities 10% discounts if they trade old electronic goods for new ones. The amounts allocated have been criticized as piddling, but their inclusion in the stimulus spending indicates that China's planners recognize the importance of domestic consumption as a driver of growth, given the steep fall in demand for Chinese exports because...