InfoAnda - Cash for Clunkers a jolt for car sales, not a fix

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

New Michael Jackson song released, gathers buzz | | 16 November 2010
Sinking profits heighten recession fears | 4 November 2008
Pelosi Leads Climate Change Delegation To China | 25 May 2009

Siblings of autistic children at much greater risk for disorder | 15 August 2011

Forum Views () Forum Replies ()

Read more with google mobile : Cash for Clunkers a jolt for car sales, not a fix

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Africa Europe Latin America Middle East North America Search Search: Cash for Clunkers a jolt for car sales, not a fix By STEPHEN MANNING and KEN THOMAS,Associated Press Writers AP - Tuesday, August 25 WASHINGTON - Now comes the hard part for the auto industry _ luring customers without big Cash for Clunkers discounts. ADVERTISEMENT The popular government rebates gave auto sales a jolt, but it was only temporary. Now car makers and dealerships are forced once again to confront the worst market in a quarter-century. While Cash for Clunkers may have proved there are still car buyers out there, it is unlikely the heavy demand will last. In fact, the big rush to car lots this month may have had the unintended effect of stealing sales from this fall and next year. "I am really worried about this winter," said J.P. Bishop, president of a dealership chain in central Maryland. "If you didn't buy now, the only reason you are going to buy over the next three or four months is because your car died." Cash for Clunkers, which offered drivers as much as $4,500 off the price of a new, more fuel-efficient car, proved far more popular than anyone imagined. Through Monday, dealers reported selling 625,000 vehicles in just a month with the rebates. The program was set to come to an end Monday night. The government had set the deadline on estimates that most of the $3 billion set aside for rebates would be used up by then. Analysts initially figured the cash would last as long as November. Cash for Clunkers had its complications: Congress had to race to approve $2 billion more for the program after the first $1 billion quickly ran out. Dealers complained the government was slow to reimburse them for deals they made on new sales. Hours before the Monday night deadline for Cash for Clunkers sales, the government gave dealers an extension, until noon Tuesday, to file the paperwork to get repaid. The deadline for sales was not affected. The Transportation Department granted the extension after the Web site set up to handle the claims was temporarily shut down from overload. Later Monday, the DOT said the Web site wouldn't be fully operational until Tuesday morning, and promised that dealers would have "time to submit pending deals equivalent to the time that was lost this afternoon while the system was down." The DOT declined to elaborate further. For the auto industry, coming off the program could be like a letdown after a sugar high. Automakers and dealers got a reprieve from a dismal year of plummeting sales, big layoffs and the bankruptcies of General Motors and Chrysler. GM actually added shifts at some plants to meet higher demand. Cars, trucks and SUVs sold in July at an annual rate of 11.2 million vehicles, the first time this year the figure has crept above 10 million. That's still far below the 16 million vehicles sold just two years ago. While Cash for Clunkers has helped the auto industry stabilize, it will probably take a full economic recovery to give car and truck sales a lasting rebound. "There's still a sizable amount of pent-up demand that's going to be felt," said Erich Merkle, president of auto industry Web site autoconomy.com. He said the "baton of Cash for Clunkers" could eventually be passed to a "fundamentally stronger economy." Sure signs of that, of course, are a ways off. Unemployment is still high and the housing market still weak, enough to keep people shy about making big-ticket purchases, said Rebecca Lindland, a Global Insight analyst. "While this Cash for Clunkers program provided a respite for an ailing industry, we are not out of the woods yet and we still have a long road to recovery," she said. There also simply isn't much left for drivers to shop for _ especially when it comes to the most popular Cash for Clunkers vehicles, such as the Ford Focus, the Toyota Corolla and some hybrids. GM, Hyundai, Toyota and Ford have ramped up production of their more efficient models because of inventory shortfalls, but those vehicles won't reach dealers for a while. Automakers are approaching the next few months cautiously. They are moving to replenish dealer showrooms, but are wary about building too many cars if demand fizzles. Ford, for example, has said it will boost production by 33 percent from a year ago during the fourth quarter. But Ford executives say that could change depending on customer demand. GM spokesman John McDonald said Cash for Clunkers has been "very successful" for GM. He said the company estimates 30 percent of its sales increase during the period came from customers who didn't qualify for the government rebates but bought cars anyway. But McDonald said that no one expects sales to keep going at that rate, and the automaker doesn't see the need to boost them through sales incentives. "We think it's a good stimulus for the economy and a good way to get people interested in buying cars," he said. "But the idea to increase incentives to make up for this just don't make sense." There are also signs that Cash for Clunkers may have sapped the market for the near future, with buyers taking advantage of the rebates and buying now rather than sticking to plans to replace their cars next year. Last week, the automotive research company J.D. Power and Associates predicted Cash for Clunkers will flatten the auto industry's recovery by lowering sales next year. J.D. Power reduced its 2010 sales forecast to 11.5 million from 11.6 million. "Because this was hot and heavy for such a short period of time, we are going to have a payback," said Jeff Schuster, executive director of forecasting at J.D. Power. ___ Associated Press writer Ben Greene in Glen Burnie, Md., and Kimberly S. Johnson in Detroit contributed to this report. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: World Pay attention multitaskers, if you canAP - Tuesday, August 25 New clue found to disappearing honey beesAP - Tuesday, August 25 Germany backs Magna, wants talks with GM on OpelAFP - Tuesday, August 25 Former Pa. judges withdraw guilty pleasAP - Tuesday, August 25 Possible leak detected at chemical weapons depotAP - Tuesday, August 25 Most Popular – World Viewed Homes of former Porsche executives searched: report Swiss size up hole in iconic banking secrecy Triple gold for Bolt as Kenya trump Ethiopia Egypt warns pharaohs' tombs could disappear Ramadan begins on Saturday amid swine flu worries View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Tuesday, 25 August 2009
Bus bombings south of Baghdad kill at least 11
Putin makes surprise visit to Chechnya
Afghan minister claims Karzai poll win, U.N. says wait | International |
US-TECH Summary
Sprint-Virgin Mobile deal gets U.S. antitrust nod
Scottish minister defends Lockerbie bomber release | International |
Shiite groups announce new alliance minus Iraqi PM
Fanbase, new sports website, goes live
Bus bombings south of Baghdad kill at least 11 | International |
Nokia plans to launch mini laptop
Pirate Bay suitor targeted in police probe
2 Palestinians, 2 Israelis wounded in Gaza clash
Saudi Arabia frees 17 Shi'ite political inmates
Putin dashes to Chechnya, shows support for Kadyrov | International |
Breakthroughs not expected in Israel London talks
U.N.'s Ban heads to Norway, no comment on harsh memo | International |
US-TECH Summary
Maliki breaks ranks with Shiite bloc ahead of election
Nokia plans to launch mini laptop
Israel's Netanyahu brings balancing act to Europe
Analysis: Fraud cases threaten US strategy
3 NATO troops killed in southern Afghanistan
New Mac operating system available late August | Technology |
Former Pa. judges withdraw guilty pleas
US, SKorea to keep enforcing sanctions on NKorea
Police seek missing car in murder of ex-model
U.S. payment-card industry grapples with security | Technology |
Caning of Malaysian woman who drank beer postponed
Several students injured in Neb. school bus crash
Series of raids by Pakistan police foil attacks
41 indicted in $2 million-a-month Denver meth ring
Aso on the defensive again with gaffe ahead of vote
Child athlete's death revives heart testing debate
Sprint-Virgin Mobile deal gets U.S. antitrust nod | Technology |
Report: 200 to go on trial after Xinjiang riots
Lawmaker wants subway station renamed for Jackson
Ariz. woman finds taxi driver is a kidney match
U.S. Justice Dept advised to pursue CIA abuses
NY man pleads not guilty in skyscraper slaying
Okla. pastor found slain in her Pentecostal church
GM sees Hummer sale to China's Tengzhong
Coroner says Michael Jackson died from lethal dose of propofol | Entertainment |
Nine Inch Nails digs Downward at farewell NY gig | Entertainment |
`White Christmas' returns to Broadway for holidays
Music Review: Loudon Wainwright III explores Poole
Hasidic star Matisyahu mixes it up on new album
Music Review: LeToya Luckett delivers edgy CD
Beauty tips for Bangladesh police recruits
Japan's first lady hopeful an outgoing TV lifestyle guru
Music Review: J Moss looks to move past sins on CD
Michael Jackson's mother praises Vienna tribute
Qatar's Tribeca looks to create regional film hub
Apple to unleash Snow Leopard on August 28
Afghanistan's first election results due
EU to propose immigration reforms in September: Sweden
Yahoo to compete with Bing despite Microsoft deal
'Lethal' drug levels killed Michael Jackson: report
N.Korea invites U.S. envoy for nuclear talks: reports | International |
Media multitasking doesn't work say researchers
France to claim exclusive Mediterranean fishing zone
Microsoft revs up low-budget mobile phones
Putin makes surprise visit to Chechnya
Ten killed in southern Iraq bus bombings
Unmasked blogger plans to sue Google: report
Iran puts more senior reformers on trial | International |
GM may try to keep Opel
Iran MP says alleged jail rape victims may testify
Israeli raid on Gaza tunnel kills 3 Palestinians | International |
NASA begins filling Discovery's external fuel tank
Afghans in limbo over vote as partial results due | International |
Afghan journalist shot dead in NW Pakistan: officials
Global stock markets up, hit 10-month highs
'Cyber-traffic' endangering primates in Cameroon
Japan finance minister warns of opposition landslide | International |
Colombia protests Chavez's meddling in local politics | International |
South Korea gives rocket launch a second shot | International |
Microsoft revs up low-budget mobile phones
Yahoo to compete with Bing despite Microsoft deal | Technology |
Japan finance minister warns of opposition landslide
South America to slam US-Colombia base deal
Australia government slips in poll, but Rudd popular
Tropical Storm Ignacio forms far out in Pacific
N.Korea invites U.S. envoy for nuclear talks: reports
British, Israeli PMs to meet amid Mideast peace drive
11 miners dead in northern China mine blast
AP NewsAlert
Media multitasking doesn't work say researchers | Technology |
AP source: Obama to nominate Bernanke to 2nd term
Gritty Chinese city seeks to shed 'spitting' image
Russia's Medvedev to mark Soviet-era battle on Mongolia visit
Relatives accuse Pakistan forces in Swat killings
Seattle mystery man leaves hospital
Group: 1,200 vets wrongly told they have disease
Cash for Clunkers a jolt for car sales, not a fix
More than 200 face trial for ethnic riots in China
US prosecutor to probe alleged CIA abuses
Seoul shares fall after gains; LG Display down
India trade team in talks on South Africa pact
RBS sale of China assets to StanChart in trouble: FT
Coroner says Jackson died from lethal dose of propofol | Entertainment |
Crypt above Marilyn Monroe sold for $4.6 million | Entertainment |
Nick Jonas says he dreams of being president | Entertainment |
Jerry Lee Lewis to release new single
Jack Klugman sues again over Quincy profits | Entertainment |
Celebrating the beauty of being Venezuelan
Steven Seagal reality TV show in legal dispute | Entertainment |
US-ENTERTAINMENT Summary
Crypt above Marilyn Monroe sold for $4.6 million
Worker accused of assault at 50 Cent's Conn. home
Nick Jonas says he dreams of being president
For Jackson, a long and medicated night
Coroner says Jackson died from lethal dose of propofol
Steven Seagal reality TV show in legal dispute
`Inglourious Basterds' bursts to No. 1 with $38M
Three killed in Israeli raid on Gaza tunnel: medics
Germany emerges from recession in second quarter: data
Early results show Afghan election too close to call | International |
Online Encyclopedia of Life reaches 150,000 species
Warm welcome home for track champ Semenya
Top Khatami aides in Iran dock over 'soft coup'
Iran puts leading reformers on trial over unrest
Jessica Biel tops list as most risky star in cyberspace
Website keeps Paris's wartime memories alive
Two killed in Israeli raid on Gaza tunnel: medics
US officer feeling sidelined as Iraqis take over
Israeli raid on Gaza tunnel kills 3 Palestinians
US patience frays as Obama weighs Afghan troops
Young Afghan Guantanamo inmate freed, returns home | International |
Palestinian PM seeks aid for embryo state | International |
Difficult talks resume to resolve Madagascar crisis | International |
Pakistan casts doubt on new Pakistan Taliban leader | International |
China's Hu visits Xinjiang, no riot trials this week | International |
Hamas says Germany helps in Israel prisoner talks | International |
Greek fires under control, govt under attack | International |
Obama expected to renominate Bernanke
Space shuttle launch called off, NASA to try again
Taiwan confirms 461 dead, 192 missing after typhoon
Delaware gov. tries to preserve sports betting
Yahoo to compete with Bing despite Microsoft deal | Technology |
Australia terror suspects wanted to 'strike big'
Uighur exile airs report on Xinjiang prison killings
Inside the CIA's patchwork interrogation program
Sony debuts wireless reader priced at $399 | Technology |
Tutor, 13 students hurt in Vietnam acid attack
CIA terror tactics spur changes, new probe
Jessica Biel tops list as most risky star in cyberspace | Technology |
AP NewsAlert
Malaysia PM urges woman to appeal against caning
UK proposes cutting Web access to file sharers | Technology |
CAPITAL CULTURE: Another Emanuel in the spotlight
Yahoo to launch Arabic portal with Arab partner | Technology |
Failing student hurls acid at professor in Vietnam
Netbook pioneer Asustek eyes recovery; bets on China | Technology |
China's Xinjiang govt denies date set for trials
Six policemen hurt in Kashmir grenade attack
Official denies China set to open Xinjiang trials
CORRECTED: Sprint-Virgin Mobile deal gets U.S. nod | Technology |
Malaysian opposition wins another local election
Bangladesh awards gas exploration rights
Taiwan dollar down on stock losses
SKorea's LG Display to set up plant in China
Japan close to oil deal in Iraq, say officials
China shares retreat on concern about bad loans
LG Display in non-binding deal for China LCD plant
Jet Li returns to Chinese film after 3 US movies
Seoul shares slip; Chinese falls, comments weigh =2
Bangladesh grants oil, gas blocks: ministry
Cairn Energy says to start pumping India oil
China's main stock index falls 5.5 percent
Zimbabwe students back in school, but without books
'Inglourious Basterds' takes box office top spot
Hunt is on for polar explorer Amundsen's seaplane
Oscar-nominated French director to head Pusan jury
SAfrican fashion designer inspired by her rural roots
Jet Li returns to Chinese film after 3 US movies
Jessica Biel named `most dangerous celebrity'
Gold and booty: Goa opens smuggling museum
Indonesia police widen hotel bombing investigation
Australian official supports Corby repatriation
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01