Archive for the ‘White House’ Category

When Edmunds.com released its report on the Cash-for-Clunkers program on Wednesday, saying it cost $24,000 for each vehicle that wouldn't otherwise have been sold, it must have expected pushback.

It may not have anticipated, however, a sharp retort from the highest office in the land: the White House. But that's what it got yesterday, via a pithy entry on the White House blog calling the Edmunds analysis "implausible" and "faulty".

It not only refuted Edmunds' contentions by citing a report from the Council of Economic Advisors, but accused Edmunds of releasing sensational Clunkers analyses solely to draw media attention.

The White House...

Well, that was quick. Just four days after the launch of the Car Allowance Rebate Systems (CARS) program, better known as "Cash for Clunkers," it appears that it may be suspended due to its own success.

Apparently eager buyers have blown through the $1 billion allocation, and dealers are worrying they won't get paid for clunkers they've already taken in and disabled.

We first saw the story late last night from our cohorts at Motor Authority. Then the alerts started flooding in. This morning's news carries rumors that the US Transportation Department will suspend the program, although there's been no definitive statement yet.

Late yesterday,...