The Car Allowance Rebate System or CARS program came to a close on August 26, 2009. Rebates of $2.877 billion were submitted by previous owners of nearly 700,000 “clunkers.”
The program awarded participants up to $4,500.00 through trade-in allowances or vouchers in exchange for their gas guzzling cars, all of which will be crushed.
The average fuel economy of the vehicles traded in was 15.8 miles per gallon (mpg) compared to a 24.9 mpg average of vehicles purchased; 84 percent traded in trucks and 59 percent purchased passenger cars.
This stimulus program probably did more for the failing American car than it did for the environment. Production is up for Ford and General Motors, and Honda will be increasing production at three of its plants.
Those of us who never bought a gas guzzler, whose tax dollars have now bailed out the automotive industry twice, have no choice but to take the high road.
Maybe we can get a bill passed to give us the same rebate to buy the first affordable electric cars.