Chrysler Group is offering consumers $4,500 on most of its 2009 models, doubling the cash-for-guzzlers incentive offered by the federal government.
"Double Ca$h for Your Old Car," offers up to $4,500 cash or 0 percent financing for 72 months on qualifying new vehicles, even if the consumer's trade-in doesn't qualify for the federal incentive.
The program starts tomorrow and runs through August, Chrysler announced this morning.
"We didn't want consumers without qualifying vehicles to feel left out, so we are offering up to $4,500 to everyone," said Steven Beahm, Chrysler's vice president for sales operations.
Chrysler emerged from six weeks of Chapter 11 reorganization on June 10, and now is controlled by Italian automaker Fiat S.p.A. Through the first half of the year, Chrysler's U.S. sales plummeted 45.7 percent to 471,197 vehicles.
The cash-for-guzzlers legislation, designed to help lift U.S. light-vehicle sales from 27-year lows, provides vouchers of $3,500 to $4,500 to consumers who trade in their rides for new vehicles that are more fuel-efficient. Congress allocated $1 billion to fund the program, which expires Nov. 1.
New cars eligible for the federal incentive must have combined highway and city fuel economy of at least 22 mpg, and small light trucks must have combined fuel economy of at least 18 mpg. New vehicles must have a suggested retail price of $45,000 or less.
Trade-ins eligible for "cash for guzzlers" must be drivable, less than 25 years old and have combined fuel economy of 18 mpg or less. They must have been continuously insured and registered to their owners for at least one year.
Vehicles not included in Chrysler's offer are the Jeep Wrangler, Dodge Challenger and Sprinter and all SRT products.
Chrysler had told dealers that its current incentives would last through July. But some dealers had said they believed customers were holding out in hopes of getting more money for their old vehicles under the cash for guzzlers program.
Said Kathy Graham, Chrysler spokeswoman: "We were hearing from a lot of people who thought they could buy with cash-for-clunkers. But then realized for one reason or another their car didn't qualify. We looked at putting an incentive package together that appealed to everybody."
The National Highway Traffic Safety Administration is drawing up rules for the cash-for-guzzlers program and is scheduled to release them by the end of the week.
|
|
|---|
Showing posts with label 2009 Car Incentives. Show all posts
Showing posts with label 2009 Car Incentives. Show all posts
Wednesday, July 22, 2009
Tuesday, July 14, 2009
Hyundai Car Allowance Rebate Incentives Boost Sales
The Hyundai USA automaker was the first to honor the government-sanctioned program, resulting in 7 percent of its sales.
Fountain Valley-based Hyundai USA became the first company to implement the government’s Car Allowance Rebate System (CARS) incentives on July 2. The program – also known as "cash for clunkers" – accounted for 7 percent of Hyundai’s sales in the first week of its launch.
The National Highway Traffic Safety Administration (NHTSA), signed into law by President Obama, is a federal program that offers additional incentives to buyers opting to trade in a less fuel-efficient vehicle in order to purchase a new, more fuel-efficient vehicle.
Hyundai's rollout enables buyers to receive the full rebate allocated under CARS when an eligible trade-in is exchanged for a qualifying model at a participating Hyundai dealership.
The fuel-efficient Hyundai Elantra was the most popular model purchased under the CARS program, making up 41 percent of sales. Elantra recently earned top honors in the 2009 J.D. Power and Associates Initial Quality Study for the highest initial quality in the compact car segment, and is a "Top Pick" from Consumer Reports.
Fountain Valley-based Hyundai USA became the first company to implement the government’s Car Allowance Rebate System (CARS) incentives on July 2. The program – also known as "cash for clunkers" – accounted for 7 percent of Hyundai’s sales in the first week of its launch.
The National Highway Traffic Safety Administration (NHTSA), signed into law by President Obama, is a federal program that offers additional incentives to buyers opting to trade in a less fuel-efficient vehicle in order to purchase a new, more fuel-efficient vehicle.
Hyundai's rollout enables buyers to receive the full rebate allocated under CARS when an eligible trade-in is exchanged for a qualifying model at a participating Hyundai dealership.
The fuel-efficient Hyundai Elantra was the most popular model purchased under the CARS program, making up 41 percent of sales. Elantra recently earned top honors in the 2009 J.D. Power and Associates Initial Quality Study for the highest initial quality in the compact car segment, and is a "Top Pick" from Consumer Reports.
Sunday, April 26, 2009
Mitsubishi Lancer Ralliart Sportback (2009-) Review
We last drove the Ralliart Sportback as a pre-production car and even then it was shaping up to be a good compromise for someone who can't stretch to an Evo.
The prototypes had their flaws, though. The Ralliart's auto 'box blunted the 237bhp 2.0-litre turbo's performance, while others complained that Mitsubishi had gone too far in softening the Ralliart to make it palatable for the Golf GTI buyers and the like.
Mitsubishi listened and got to work. The finished Ralliart still sprints to 62mph in 7.1 seconds, but now boasts better gear ratios. Even more significantly, engineers have found the 'box is strong enough to take the full 253lb-ft of torque without the need for the pre-production car's torque limiter on first gear, promising for harder acceleration.
If that's not enough, the brakes have been boosted, suspension tweaked and it's competitively priced from £21,649 - that's £7,000 cheaper than the cheapest Lancer Evo and about £1,300 cheaper than the five-door Golf GTI.
So has Mitsubishi succeeded in providing an appetising cut-price alternative to one of the fastest, most accomplished four-door saloons ever made? Read on to find out.
Source:http://www.channel4.com
Thursday, April 16, 2009
CarMax Used Cars Incentive Program Launched
Auto retailer CarMax Inc. on Wednesday urged Congress to include used-car buyers in its proposed "cash for clunkers" legislation aimed at jump-starting the auto industry.
Congress is developing legislation that would provide vouchers to consumers who trade in their gas guzzlers and buy more fuel-efficient vehicles. Modeled after successful programs in Europe, the bills before both chambers of Congress are designed to get more gas-sipping cars on the road and boost auto sales, which dropped more than 40 percent among the Big Three carmakers in March.
While used-car buyers are eligible for vouchers under some versions of the proposal, other versions exclude them.
"More people will be able to participate in the program, more jobs will be saved, and more fuel-efficient vehicles will end up on the road by including used vehicles," Tom Folliard, the company's chief executive, said in a news release.
CarMax said its inventory currently includes more than 12,500 vehicles with more than 24 miles per gallon on the highway, which meets the fuel efficiency targets in the some of the legislative proposals.
Congressional leaders have signaled support for some type of car scrappage program and lawmakers are trying to develop a compromise that could win approval in both chambers.
With General Motors Corp. and Chrysler LLC surviving on billions in government aid and few takers at car dealerships, lawmakers have been trying to develop incentives to help the auto industry and respond to environmental groups that want better fuel efficiency in the vehicle fleet.
Analysts have estimated it could boost car sales by 750,000 to 1 million vehicles a year.
But in a recent note Credit Suisse analyst Gary Balter said while he doesn't see a recovery in car sales, either new or used, in the foreseeable future, the proposed legislation could eat into CarMax's sales.
In the Senate, Sens. Dianne Feinstein, D-Calif., Susan Collins, R-Maine, and Schumer want to give consumers a voucher for $2,500 to $4,500 to buy a new vehicle with better fuel efficiency. The older vehicle eligible for scrapping would need to get less than 18 miles per gallon.
The Senate version, which would apply to automobiles built around the globe, would also provide vouchers of up to $3,000 for used vehicles or credits of up to $3,000 for transit fares.
In the House, Rep. Betty Sutton, D-Ohio, wants to give car shoppers $3,000 to $5,000 when they turn in a vehicle for something more efficient. The program would be limited to cars built in North America and require the new car to get at least 27 miles per gallon.
Congress is developing legislation that would provide vouchers to consumers who trade in their gas guzzlers and buy more fuel-efficient vehicles. Modeled after successful programs in Europe, the bills before both chambers of Congress are designed to get more gas-sipping cars on the road and boost auto sales, which dropped more than 40 percent among the Big Three carmakers in March.
While used-car buyers are eligible for vouchers under some versions of the proposal, other versions exclude them.
"More people will be able to participate in the program, more jobs will be saved, and more fuel-efficient vehicles will end up on the road by including used vehicles," Tom Folliard, the company's chief executive, said in a news release.
CarMax said its inventory currently includes more than 12,500 vehicles with more than 24 miles per gallon on the highway, which meets the fuel efficiency targets in the some of the legislative proposals.
Congressional leaders have signaled support for some type of car scrappage program and lawmakers are trying to develop a compromise that could win approval in both chambers.
With General Motors Corp. and Chrysler LLC surviving on billions in government aid and few takers at car dealerships, lawmakers have been trying to develop incentives to help the auto industry and respond to environmental groups that want better fuel efficiency in the vehicle fleet.
Analysts have estimated it could boost car sales by 750,000 to 1 million vehicles a year.
But in a recent note Credit Suisse analyst Gary Balter said while he doesn't see a recovery in car sales, either new or used, in the foreseeable future, the proposed legislation could eat into CarMax's sales.
In the Senate, Sens. Dianne Feinstein, D-Calif., Susan Collins, R-Maine, and Schumer want to give consumers a voucher for $2,500 to $4,500 to buy a new vehicle with better fuel efficiency. The older vehicle eligible for scrapping would need to get less than 18 miles per gallon.
The Senate version, which would apply to automobiles built around the globe, would also provide vouchers of up to $3,000 for used vehicles or credits of up to $3,000 for transit fares.
In the House, Rep. Betty Sutton, D-Ohio, wants to give car shoppers $3,000 to $5,000 when they turn in a vehicle for something more efficient. The program would be limited to cars built in North America and require the new car to get at least 27 miles per gallon.
Subscribe to:
Posts (Atom)
