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Hyundai is first to accept cash for clunkers

Posted by Hootan Mahallati | July 02, 2009 | In green hyundai news

A few days ago, we told you about yet another incentive Hyundai is offering prospective customers. Today, Hyundai has become the first company to participate in what is officially known as the Car Allowance Rebate System (CARS). Essentially, if you trade in your car for a more fuel-efficient car, you will receive a discount toward your purchase. The dealer will then receive a compensation from the NHTSA.

President Obama has already singed the program into law, but its full details have not yet been made public. This is why Hyundai is giving its dealers a cash advance so that they can get a jump on the competition. In addition, Hyundai has 13 models that qualify for the CARS program, so the company stands to gain a lot by making its move.

From a pure business competitiveness perspective, Hyundai's aggressive marketing moves in this annus horibilis for the car industry is mighty impressive and has definitely created great public goodwill for the rapidly improving Korean marque.

Visit the CARS website in order to lear more about the program.

[Source: Car and Driver]

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