CARS payments are almost complete
WASHINGTON — With final dealer payments being processed under the CARS program, U.S. Transportation Secretary Ray LaHood announced that the agency has “crossed the finish line for paying back eligible and complete dealer submissions.”
According to the U.S. Department of Transportation, $12.301 million was requested by dealers in Mississippi, and $11.92 million had been paid or was ready for payment as of Sept. 25.
With the $3 billion provided by Congress to run the CARS program, consumers bought nearly 700,000 vehicles in fewer than 30 days. In August alone, retail sales rose by 2.7 percent, due in large part to a notable 10.6 percent boost in sales by auto dealers.
To date, 98 percent of CARS program rebates totaling approximately $2.8 billion have been approved for payment under the program. All applications for rebates have been reviewed at least once, and all eligible and complete applications have been approved for payment.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Yarber could be sworn in today as new Jackson mayor
- After review, MSU moves forward on new research facility
- Ole Miss launches commitment to be 'climate neutral'
- Pharma Pac lays off rest of workers; could end up owing state
- SpaceX, Stennis officially open new rocket test stand
- Acco Brands investing $1.6M, adding 162 workers
- Gulf LNG terminal mulling export opportunities
- Secretary of State's Office transitioning to new location