Sales attributed to the government’s Cash for Clunkers program have topped 180,000 units. The program’s existence was put in jeopardy when it blew through most of its cash within in the first week, but now it looks like another $2 billion is going to be added to the vote after a successful Senate vote. Lawmakers agreed to add additional funding to the program which should give buyers until labor day to trade in their older vehicles for new more fuel-efficient ones.
More than 80 percent of the vehicles traded in have been trucks, SUVs and vans, while 59 percent of the vehicles purchased have been passenger cars. The Toyota Corolla recently overtook the Ford Focus as the best-selling vehicle in the program. The Ford Focus holds the number two spot, while the Honda Civic comes in third.
Full Story: Reuters via CNN Money