Status of the Clunker plan

According to Edmunds.com (the auto consumer info website), “the rush of automotive sales activity brought on by the ‘Cash for Clunkers’ program is fading fast. They said auto purchase intent is down 31% from its peak in late July. “Now that there is plenty of money in the program and the most eager shoppers have already participated, the sense of urgency is gone, and the pace of intent decline is accelerating…Inventories are getting lean and prices are climbing, giving consumers reasons to sit back,” according to Edmunds.com CEO. They claim the purchase intent has “proven to be a reliable leading indicator of sales to come in the following 90 days.”

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