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New life for auto biz

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High Five
Thursday, July 23, 2009

While final guidelines won't be released until Friday, a new "cash for clunkers" program sets aside $1 billion in incentives for consumers, and one dealer in Portland is optimistic that the program will bring in more buyers.

The "cash for clunkers" program sets aside $1 billion in consumer incentives. The National Highway Traffic Administration will release final guidelines for the program Friday, clearing the way for car buyers to get a $4,500 credit toward the purchase of a new car in exchange for their gas-guzzling trade-in...

Ed Tonkin, vice president of Portland-based Ron Tonkin Family of Dealerships, was heavily involved in lobbying for the "cash for clunkers" program. He is vice president of the National Automobile Dealers Association and becomes its chairman next year.

Read the full story at OregonLive.com.

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