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The Cash for Clunkers Program is still fresh in our minds as it became a smashing success in turning around the automotive industry from a sharp decline. In contrast, it has actually helped push the nation’s August retail sales up by 2.7 percent. However, not all applications have been approved as 60,000 clunkers were rejected for payout.
From a larger perspective though, that is just a small number compared to the 535,000 vouchers paid worth a whooping $2.25 billion! And there are 77,000 more vouchers that have been approved worth $322 million. Chaching!
“There can be no doubt that this program drummed up more business, for more people, in more places, at a time when we most needed the help,” Secretary Ray LaHood said.
Watch the CNN video footage of how successful the program was:
[image from http://www.trianglerentacar.com]
Make sure to check out the site for more related information about 60,000 Clunkers Rejected for Payout .
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