Auto Industry

In July and August 2009, the federal government implemented the Consumer Assistance to Recycle and Save (CARS) program, or ¿Cash for Clunkers,¿ a temporary vehicle retirement program that offered consumers a monetary credit ($3,500 or $4,500) to trade in an older vehicle for a new, more fuel-efficient one. The National Highway Traffic Safety Administration (NHTSA) was responsible for administering the program. This report examines: (1) what is known to date about the extent to which the CARS program achieved its objectives; (2) what stakeholders¿ experiences were with the CARS program; and (3) how the CARS program compares to other selected domestic and international vehicle retirement programs. Charts and tables.