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In terms of distributional effects, compared to households that purchased a new or used vehicle in 2009 without a voucher, CARS program participants had a higher before-tax income, were older, more likely to be white, more likely to own a home, and more likely to have a high-school and a college degree. miles per gallon (9.4
Burton Abrams and George Parsons of the University of Delaware evaluated the efficiency of the recently concluded Cash for Clunkers (CARS) program and concluded that the cost exceeds the benefit by approximately $2,000 per vehicle, or close to $1.4 billion in total. Their paper appears in the online journal The Economists’ Voice.
The Car Allowance Rebate System, which cost the government $3 billion and was dubbed “Cash for Clunkers,” was so popular that it ran for only a few weeks in the summer before running out of money. The data included more than 320,000 real vehicle transactions completed under Cash for Clunkers. —Michael Wiles.
A new Rasmussen telephone poll found that 81% of Americans oppose an “ increase the tax on gasoline by a large amount ” as a way to encourage the purchase of more fuel-efficient cars. Eight percent are undecided, and 10% supported such an increase. 18% of government employees agree, compared to 7% who work in the private sector.
The programme, which has been dubbed ‘cash for clunkers’, was signed into law on June 24 with issuance expected to occur on July 23. Dealers apply a credit at purchase - no voucher is needed. Only purchases or lease of new vehicles qualify. Dealers apply a credit at purchase - no voucher is needed.
WASHINGTON -(Dow Jones)- Move over, cash for clunkers. The group notes that Japan and the European Union already offer large financial incentives to spur electric vehicle purchases. cents per mile traveled, compared with 12 cents per mile for a gas-powered car, advocates say. November 16, 2009: 06:01 PM ET.
Photograph: Graeme Robertson/Guardian Consumers are to be offered incentives of up to £5,000 to purchase an electric car under government plans to be unveiled today that will also see the creation of electric car cities across the UK and the launch of large-scale experiments with ultra-green vehicles. "Of
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