‘Cash for Clunkers’ drives up auto sales

Sep 02, 2009 | 11:08 AM | Corinna Petry

Car and light truck sales for the top seven automotive brands in the U.S. jumped 26.3 percent to 1,074,156 in August from 850,584 the previous month and were down a mere 0.8 percent from 1,082,753 in August last year, according to an AMM analysis.

Automakers credited "Cash for Clunkers" for the strong gains. The federal incentive program, formally known as the Car Allowance Rebate System (CARS), was designed to boost sales of fuel-efficient vehicle while taking gas guzzlers off the road.....

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