A Bright Spot for the Auto Industry

Customers are already flocking to the 5-day-old federally funded program “Cash-For-Clunkers,” according to the Detroit Free-Press and the New York Daily News. The $1 billion initiative gives consumers a $3,500 or $4,500 discount for swapping old gas guzzlers to purchase or lease new fuel efficient cars. The hope is that consumers will spend the money they’re saving on gas to stimulate the economy. It will be interesting to see if the streak continues. In Google Trends, variations of “Cash for Clunkers” climbed to the top of this week’s “hottest searches” list.