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More than 690,000 rebate applications worth nearly $2.9 billion were submitted by dealerships before the program's deadline of Aug. 25th.  Congress had approved $3 billion to run the program.

"This is a win for the economy, a win for the environment and a win for American consumers," DOT Secretary Ray LaHood said in a statement. "Manufacturing plants have added shifts and recalled workers. Moribund showrooms were brought back to life and consumers bought fuel-efficient cars that will save them money and improve the environment.
"This is one of the best economic news stories we've seen, and I'm proud we were able to give consumers a helping hand."
Preliminary reports from the White House Council of Economic Advisors projected that the CARS program will rev up the country's third-quarter economic growth due to increased auto production to replace depleted inventories; and will create or save 42,000 jobs in the second half of 2009.
Detroit automakers Ford and General Motors already announced that the program generated demand for their automobiles and that they will ramp up production in the third and fourth quarters to meet the demand.
Honda also said it will be increasing production at its U.S. plants in East Liberty and Marysville, Ohio and in Lincoln, Ala.

 

Toyota logged in the most new vehicle sales at 19.4 percent, followed by General Motors at 17.6 percent; Ford, 14.4 percent; and Honda at 13 percent.
84 percent of consumers traded in trucks and 59 percent purchased passenger cars. The average fuel economy of the vehicles traded in was 15.8 miles per gallon and the average fuel economy of vehicles purchased is 24.9 mpg. - a 58 percent improvement, according to the DOT.