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  • 'Clunkers' program gives biggest boost to foreign carmakers

    09/02/2009 1:48:51 PM PDT · by NormsRevenge · 9 replies · 413+ views
    LA Times ^ | 9/2/09 | Martin Zimmerman
    Hailed as a jump-start for the U.S. economy, the federal government's "cash for clunkers" gave the biggest boost to foreign automakers. Overall, auto sales in August were the highest in more than a year, according to industry figures released Tuesday. Carmakers sold more than 1.2 million cars and trucks, up 1% from the same month last year and the first year-over-year sales gain since August 2007. Much of that was a result of the clunkers program, which ran July 24 to Aug. 24 and provided hefty government rebates to consumers who traded in gas guzzlers for more fuel-efficient new vehicles....