Early U.S. success
The U.S. has also created an element of urgency and consumer competition with its cap of $1 billion, and prominently features a big gauge on its CARS website, which reveals how much money is still left in the “incentive gas tank.”
On the first day of the program, over 4,000 U.S. consumers signed up and bought new vehicles.
The competition has also extended to the automakers. Virtually all of them have increased marketing campaigns to ensure they get their share of this new business. Many have launched additional incentives on top of the CARS cash. The US$1 billion should be good for about 250,000 deals.
Cash for Clunkers to survive with $2 billion injection
Save your worries for another time. While it was announced just hours ago that Uncle Sam’s "Cash for Clunkers" program was getting temporarily shut down, the U.S. Senate will vote next week on a new bill that would inject an additional $2 billion and therefore ensure its survival. The House of Representatives has already approved the bill.
The money is merely the result of a program transfer, namely a program supporting the development of renewable-energy car projects.
Cash for Clunkers aims to encourage consumers trade their old, fuel-thirsty vehicle for a brand-new model that’s more efficient. The incentives range from $3,000 to $4,500.
So far, in less than six days, over 250,000 gas-guzzlers have been traded in. The program was initially scheduled to terminate on November 1, 2009.
For the time being, it looks like the Senate will approve the bill without much opposition. That said, the U.S. Department of Transportation (DoT), in charge of the program, was asked to give details about the latest transactions. Congressmen want to make sure that most of the incentives will go to consumers purchasing American-built vehicles. No such information has been officially released yet, though.
So why not Canada?
Well, Canada already has a program, just not one without a lot of stimulus “oomph.”
Canada has had a succession of programs to encourage “scrappage.” The latest iteration, called “Retire Your Ride,” was introduced this past January. It is funded by Environment Canada and managed by the Clean Air Foundation (CAF).
Under this program, owners of vehicles made during or before 1995 can scrap their vehicles in exchange for various incentives, like public transit passes, membership in car sharing programs, discounts toward the purchase of a bicycle, or $300 in cash. Incentives vary by province and are delivered by local agencies working with CAF.
An average vehicle from 1995 emits roughly 18 times the smog-forming pollutants as an equivalent new vehicle, and an average vehicle from 1990 emits approximately 33.6 times more than an equivalent 2009 models.
The U.S. has also created an element of urgency and consumer competition with its cap of $1 billion, and prominently features a big gauge on its CARS website, which reveals how much money is still left in the “incentive gas tank.”
On the first day of the program, over 4,000 U.S. consumers signed up and bought new vehicles.
The competition has also extended to the automakers. Virtually all of them have increased marketing campaigns to ensure they get their share of this new business. Many have launched additional incentives on top of the CARS cash. The US$1 billion should be good for about 250,000 deals.
Cash for Clunkers to survive with $2 billion injection
Save your worries for another time. While it was announced just hours ago that Uncle Sam’s "Cash for Clunkers" program was getting temporarily shut down, the U.S. Senate will vote next week on a new bill that would inject an additional $2 billion and therefore ensure its survival. The House of Representatives has already approved the bill.
The money is merely the result of a program transfer, namely a program supporting the development of renewable-energy car projects.
Cash for Clunkers aims to encourage consumers trade their old, fuel-thirsty vehicle for a brand-new model that’s more efficient. The incentives range from $3,000 to $4,500.
 |
So far, in less than six days, over 250,000 gas-guzzlers have been traded in. The program was initially scheduled to terminate on November 1, 2009.
For the time being, it looks like the Senate will approve the bill without much opposition. That said, the U.S. Department of Transportation (DoT), in charge of the program, was asked to give details about the latest transactions. Congressmen want to make sure that most of the incentives will go to consumers purchasing American-built vehicles. No such information has been officially released yet, though.
So why not Canada?
Well, Canada already has a program, just not one without a lot of stimulus “oomph.”
Canada has had a succession of programs to encourage “scrappage.” The latest iteration, called “Retire Your Ride,” was introduced this past January. It is funded by Environment Canada and managed by the Clean Air Foundation (CAF).
Under this program, owners of vehicles made during or before 1995 can scrap their vehicles in exchange for various incentives, like public transit passes, membership in car sharing programs, discounts toward the purchase of a bicycle, or $300 in cash. Incentives vary by province and are delivered by local agencies working with CAF.
An average vehicle from 1995 emits roughly 18 times the smog-forming pollutants as an equivalent new vehicle, and an average vehicle from 1990 emits approximately 33.6 times more than an equivalent 2009 models.