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Brookings Institution says Cash For Clunkers was a bust

According to a Brookings evaluation of the Car Allowance Rebate System (CARS), more commonly known as Cash for Clunkers, the $2.85-billion program cost taxpayers $1.4 million for each of the 3,676 jobs created by it from June to December 2009. The White House reportedly estimated that the program would create 70,000 jobs. Additionally, t

Obama mulling more support for plug-in vehicle manufacturers

The U.S. federal government has put a lot of money into clean car companies this past year, including about $8.5 billion through U.S. Department of Energy's Advanced Technology Vehicle Manufacturing Program (Ford got $5.9 billion, Nissan $1.6 billion, Sebastian Blanco

Report: VP Joe Biden to announce stimulus battery grants in Detroit on Wednesday

Vice President Joe Biden will be delivering a speech on the economic recovery efforts that have been implemented thus far at the NextEnergy Center in Detroit on Wednesday. The Detroit News is reporting that Biden will be using the occasion to announce the first round of battery research grants from a Sam Abuelsamid

Feds to buy over 17,000 D3 fuel-efficient vehicles?

2010 Ford Fusion Hybrid - Click above for a high-res gallery

Feds to buy over 17,000 of D-3's fuel-efficient vehicles

Click above for high-res gallery of the 2010 Ford Fusion Hybrid

Should the U.S. institute a vehicle scrapping plan?

Last month, Germany reported a shocking 21 percent improvement in auto sales, and the greatest driver in the uptick was a used vehicle scrapping plan that pays drivers 2,500 euros ($3,150) to remove their old car from the road. With new car sales in most other countries down by at least that much, it was widely speculated that other governments would look closely at Germany's new s

$2 billion? Nah, more like $12.5 billion for plug-in cars in the stimulus bill

When the big stimulus bill was passed this week, the number that rose to the forefront was a $2 billion investment for plug in vehicles. But, if you add in all the additional plug-in help for things like infrastructure, the actual plug-in stimulus package is closer to $12.5 billion, according to Plug In America's legislative director Jay Friedland. We've taken a look at some of these

Polk speculates about effect of government incentives on 2009 car sales

In light of the automaker benefits and car buyer assistance in the recently-passed stimulus package, analysts at R. L. Polk & Co. estimate there will be an average rebate of $330 for every vehicle sold this year. By allowing buyers to deduct the sales tax from a new vehicle purchase from their income taxes, Polks sees a sales increase of 94,000 units this year.

Senate approves tax break for new car shoppers

The economic stimulus bill just got a whole lot more interesting for automakers and car buyers alike, as a proposal to make interest on auto loans deductible has been voted in. The proposal, which was championed by the National Automotive Dealer Association, was voted in by a bi-partisan 71-36 vote. If the $800 billion stimulus bill passes the Senate and this provision survives, car buyers will be able to write off auto loan interest on their taxes, saving about $1,500 on a $25,000 car purchase.

North Dakota reps take a local approach to saving Motown

North Dakota state rep. Lisa Wolf (D-Minot) has sponsored, with bipartisan support, an "emergency measure" in the legislature that if passed, could save ND car buyers some pretty decent money. The proposed legislation would eliminate the state's motor vehicle sales, excise, and use taxes on new rides purchased before June 30, 2010. Oh, yeah: there's a significant catch -

Senator Evan Bayh proposes $1.6B investment in battery manufacturing, smart grid and EVs

In the wake of the bridge loan to the General Motors and Chrysler last Friday from the TARP fund, US Senator Evan Bayh (D-IN) made a federal aid proposal of his own. Bayh is proposing that as part of a stimulus package early in 2009, Congress should include $1.63 billion in grants to help fund the build-out of US manufacturing capacity for advanced batteries, development of the batteries and intelligent grid technology to help support widespread use of electric vehicles. Not surprisingly, some o