Detroit's Salvation: Higher Gas Taxes

America's "Cash for Clunkers" program is over. The nearly $3 billion initiative to boost auto sales successfully encouraged car owners to swap some 700,000 aging, fuel-guzzling vehicles for newer, more fuel-efficient ones. Consumers that benefited from a subsidy of up to $4,500 took advantage of the opportunity to upgrade their vehicles.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.