Newspaper Page Text
Cash for Clunkers boosts local auto sales
By Pamela Permar Shierling
Local automobile sales have been
boosted recently because of the fed
eral government's Cash for Clunkers
program (or C.A.R.S. - car allowance
rebate system).
According to Gary Hudgins at Carl
Gregory Chrysler, Dodge, Hyundai,
and Nalley Honda's David Hunt the
car business has been brisk.
"We have sold 30 cars under the
Cash for Clunkers program," Hudgins
said. In reference to the paperwork
involved Hudgins said, "It was chaos
at first; taking about two hours per
vehicle sold to file the paperwork. But
we have it down to about 15 minutes
per car now."
"Most of the vehicles sold have been
Hyundais," Hudgins said. However,
the Dodge Caliber, Dodge Journey and
the Chrysler PT Cruiser have sold well
under the program. "In fact," Hudgins
continued, "we are out of Calibers and
Cruisers but expect more in during
September."
"This (Cash for Clunkers) has been
the biggest shot in the arm since Sep
tember 2001 when they came out with
employee pricing to jump start auto
sales after 9-11," Hudgins said.
"There is no question that all auto
dealers have been stimulated by this
program," Hudgins continued. "How
ever, it will hurt fourth quarter sales
because people who would normally
buy during the fourth quarter have
been bumped into buying a car now.
We should expect a drop in car sales
during the fourth quarter."
Has Carl Gregory seen any rebate
money yet? Not yet. "But I'm sure the
government will pay," Hudgins said.
Nalley Honda has sold 33 cars under
the Cash for Clunkers program. "We
have sold Honda Accords, Civics and
CRVs," David Hunt said.
"The Cash for Clunkers program
has definitely helped Nalley," Hunt
said. "Half our current sales are under
the Cash for Clunkers program."
"What the program has done," Hunt
continued, "is taken people who may
not have traded this year and moved
them into the market."
"You can even save on a new truck,"
said Hunt. "You can qualify for a $3,500
trade-in value by increasing mileage 2
mpg or $4,500 trade-in value for a 5
mpg increase."
"It not only helps get low mileage
vehicles off the road but the safety
features are better in the newer cars,"
Hunt said.
After Nalley disables each 'clunker's'
engine, the cars will be sold to a sal
vage company for about $50 each. "The
salvage company can use everything
on the car except the engine," Hunt
said.
Cash for Clunker sales have been a
little slower at Dan Vaden Chevrolet,
Cadillac, Buick according to sales man
ager Warren Miller.
"We have sold about 12," Miller
said. "We have not done as well as we
had hoped. The program does limit
vehicles."
What Miller is talking about is that
to qualify for the rebate program a
trade-in vehicle must be getting less
than 18 miles per gallon (mpg) (EPA
combined). It must be traded on a car
that gets a minimum combined fuel
economy of 22 mpg.
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THE ISLANDER, AUGUST 17, 2009, PAGE 3
Business Upda
Miller said most of
Dan Vaden's cars qualify
under the Cash for Clunk
ers program including
the Chevy Equinox, 1500
series trucks. "In some
cases even the Chevro
let Tahoe could qualify,"
Miller said.
Miller did warn that
buyers still have to quali
fy credit wise.
Cars for Cash facts:
• trade in vehicle must
be less than 25 years old
• to qualify for a $3,500 trade in
value buyer must purchase vehicle
that increases mileage by 4 to 9 mpg
over trade in vehicle
• to qualify for a $4,500 trade in
Cash for Clunkers
has given local car
dealers a boost.
Above: Nalley's
line of "clunkers."
Left: Gary Hudgins
of Carl Gregory in
front of the "clunk
ers."
value buyer must
purchase vehicle that
increases mileage by
10 or more mpg over
trade in vehicle
• Cash for Clunk
ers program applies to customers buy
ing new vehicles that meet program's
mileage standards and have MSPRs of
$45,000 or less.
To check mileage ratings go to www.
fueleconomy.gov/feg/findacar.htm □
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