'Cash for clunkers' bashed
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Auto Industry Braces For Hangover After The 'Clunker' Party
Transportation officials said 625,000 transactions, worth $2.58 billion, had been submitted as of Monday morning.
The Obama administration declared the program a success. An estimate issued Monday by the White House Council of Economic Advisers said the program is projected to boost U.S. third-quarter gross domestic product by 0.3 to 0.4 percentage points and create 42,000 jobs by the end of 2009.
Many auto industry analysts and dealers expect sales volumes to fall now that the program is over. They worry that many people who took advantage of the program were merely accelerating purchases they would have made later in the year.
If that's true, the premature sales could hurt automakers, which increased production in the third quarter to replenish clunker-depleted inventories that had already grown low because of factory shutdowns over the summer.
The Obama administration declared the program a success. An estimate issued Monday by the White House Council of Economic Advisers said the program is projected to boost U.S. third-quarter gross domestic product by 0.3 to 0.4 percentage points and create 42,000 jobs by the end of 2009.
Many auto industry analysts and dealers expect sales volumes to fall now that the program is over. They worry that many people who took advantage of the program were merely accelerating purchases they would have made later in the year.
If that's true, the premature sales could hurt automakers, which increased production in the third quarter to replenish clunker-depleted inventories that had already grown low because of factory shutdowns over the summer.
Again, another BOOM To BUST move. I don't understand what everyone is so overjoyed about when they see better #'s or a stimulus plan.
Obviously washington still doesn't have the right idea, just more of THE SAME BOOM AND BUST. Sure no one *****es during the BOOM movement, wait til the bust happens. Auto industry is about to get raped.
Then they will cry, and get more of our $$.
Obviously washington still doesn't have the right idea, just more of THE SAME BOOM AND BUST. Sure no one *****es during the BOOM movement, wait til the bust happens. Auto industry is about to get raped.
Then they will cry, and get more of our $$.
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