(Bloomberg) — A federal program to issue rebates to consumers toward new vehicles could provide a much-needed jolt to the U.S. auto industry that’s seen plants idled and showrooms emptied by the coronavirus, according to the Obama administration official who oversaw the program known as “cash for clunkers.”Ray LaHood oversaw the program officially named Cars Allowance Rebate System as U.S. Transportation Secretary in 2009. In an interview, he backed a Ford Motor Co. executive’s suggestion that a sequel to the program could be helpful if the industry, lawmakers and the Trump administration agree that auto demand needs a boost once …read more
Source:: Yahoo Finance
