Amber Associates, Auto sales are up thanks to government initiative.
The successful car ownership program Cash for Clunkers has been so successful in the U.S in raising car sales that congress has passed another $2 billion extension for the program to continue.
Amber Associates sources said that the program has helped optimism in the auto industry in America. The program has already had $1 billion thrown at it to generated car sales. The program success has help sell over two hundred thousand cars.
Amber Associates points out though that sales were still down 12 percent from July last year, however the auto industry did perform well this year overall.
Car owners in the U.S are entitled to receive a $4500 rebate if they upgrade their current car for a new one; the greener the car you change too the higher the rebate the customer is entitled to.
Sources explained to Amber Associates that the programâ€˜s success has enabled the car industry to achieve success in a short period of time and that an extension on the program may well help the industry to get back on its feet by the end of the year.
Amber Associates analysts feel that the Cash for Clunkers program has been a total success; if you look at car sales more efficient cars have out sold other types of cars. A spokes person for the U.S administration told Amber Associates that they were surprised at the response to the program and were very happy with the results. They expect Obama to quickly sign the extension to the program so the good success cans continue.