Book Description:
In an attempt to boost sagging U.S. auto sales and to promote higher vehicle fuel economy, the President signed legislation on June 24, 2009, establishing a program to provide rebates to prospective purchasers toward the purchase of new, fuel-efficient vehicles, provided the trade-in vehicles are scrapped. The program was known as Consumer Assistance to Recycle and Save (CARS), or informally, as "cash for clunkers." CARS ran for a month and during this period, 700,000 vehicles were traded. Estimates of new vehicle sales induced by the rebate system range from 125,000 to as many as 440,000. This book outlines the key provisions of the CARS program and discusses the impact of the program on the economy and summarizes similar programs in other industrial countries.

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Table of Contents:
Preface

Accelerated Vehicle Retirement for Fuel Economy: "Cash for Clunkers", pp. 1-20
(Brent D. Yacobucci, Bill Canis)

Auto Industry: Lessons Learned from Cash for Clunkers Program, pp. 21-55
(GAO)

Economic Analysis of the Car Allowance Rebate System "Cash for Clunkers", pp. 57-74
(Executive Office of the President, Council of Economic Advisers)

Consumer Assistance to Recycle and Save Act of 2009, pp. 75-145
(Report to the House Committee on Energy and Commerce, the Senate Committee on Commerce, Science and Transportation and the House and Senate Committees on Appropriations- U.S. Dept. of Transportation)

Index