Senate approves more clunker cash

The Senate approved another $2 billion for the “cash for clunkers” program by a vote of 60 to 37, but don’t expect the same mad rush of sales that dealers enjoyed when the program opened. First, dealers are already reporting that showroom traffic is slipping now that the initial buzz of the program has worn off. Plus, many of the deals that were reported once the program was enacted on January 20 were in the works all month as consumers flocked to dealerships in advance to make sure they got the cash. But now that consumers know there is another $2 billion on the way, they know it will last and won’t rush to get it, says Jeremy Anwyl CEO of Edmunds.com.

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