U.S. says cash-for-clunkers program to end Monday

By IBTimes Staff Reporter | August 20 2009 4:40 PM

The popular U.S. government cash-for-clunkers program, that gives rebates for car buyers trading in less fuel-efficient vehicles, will end on Monday, the Transportation Department said on Thursday.

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Transportation Secretary Ray LaHood said in a statement that the program has recorded more than 457,000 dealer transactions worth $1.9 billion in rebates as of Thursday.

Government analysts have projected there is enough money to continue accepting applications for rebates until the deadline of Monday, August 24, at 8 p.m. EDT, the statement said.

(Reporting by Karey Wutkowski; Editing by Tim Dobbyn)

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