President Obama’s lackluster ideas to spur economic growth continue to falter. Next on the list of failues: Cash for Clunkers. Not only are many dealers simply not getting paid, a big chuck of NY dealers have said enough is enough. According to an AP report, the Greater New York Automobile Dealers Association, representing about 425 dealers in the NYC area, are pulling out of the program. The government just ain’t ponying up the promised rebates quickly enough.
Not only that, the program itself has been a boon for the Japanese economy. The FT reported that Americans are cashing in for Toyota replacements. According to this report, Toyota takes he first prize with 18.9% of the new sales.
I, for one, can’t wait to see what’s next on the plate.
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