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.
Top Posts & Pages
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- Analyst: KiOR Columbus plant may end up sold as scrap
- Gulf oil rig explosion kills one worker, injures three
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Six out of eight universities could have higher tuitions in 2015
- Humana and Bill, Hillary and Chelsea Clinton Foundation partnering
- Federal appeals court: State's abortion law is unconstitutional
- Ex-MDEQ leader Fisher joins Butler Snow
- Can Metrocenter rise from the ashes? Again
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow