By now almost everyone has heard about the new “Cash for Clunkers” program. Officially called the Car Allowance Rebate System (CARS), the program is designed to help both the economy and the environment by driving new car sales. Under the current guidelines, buyers can receive up to $4,500 in federal subsidies for trading in their old cars for new, more fuel-efficient vehicles. The program is causing quite a bit of confusion, however, because consumer response has far exceeded expectations. The future of the program is now in the hands of lawmakers – and it’s a “wait and see” game for both manufacturers and consumers.
I recently commented about the pros and cons of the program in an interview for an Ad Age article. Click here to check it out.
Ad Age – Chrysler to Ditch ‘Double Cash’ for Clunkers Ads