Used Cars Urged To Be Included In Gov’t Incentive
Apparently CarMax is using some of it’s clout to sway lawmakers into including the overlooked used car market in the latest round of economic incentives. Hopefully the gov’t will see the used car market as the vital economic link to rescuing the troubled U.S. auto market- as used cars are often the gateway to new car sales down the line.
RICHMOND, Va. – Auto retailer CarMax Inc. on Wednesday urged Congress to include used-car buyers in its proposed “cash for clunkers” legislation aimed at jump-starting the auto industry.
Congress is developing legislation that would provide vouchers to consumers who trade in their gas guzzlers and buy more fuel-efficient vehicles. Modeled after successful programs in Europe, the bills before both chambers of Congress are designed to get more gas-sipping cars on the road and boost auto sales, which dropped more than 40 percent among the Big Three carmakers in March.
While used-car buyers are eligible for vouchers under some versions of the proposal, other versions exclude them.
“More people will be able to participate in the program, more jobs will be saved, and more fuel-efficient vehicles will end up on the road by including used vehicles,” Tom Folliard, the company’s chief executive, said in a news release.