AIAM Applauds Passage of 'Cash for Clunkers' Legislation

ARLINGTON, Va., June 9 The Association of International Automobile Manufacturers (AIAM) applauds the passage of legislation that will boost the sale of fuel efficient vehicles in the U.S., to the benefit of every American consumer. The U.S. House of Representatives today overwhelmingly adopted the Consumer Assistance to Recycle and Save (CARS) Program introduced by Representative Betty Sutton.

"We are pleased that the House of Representatives passed legislation that we believe will boost the recovery of the U.S. auto market and provide a real shot in the arm of the American economy," said Michael J. Stanton, President and CEO of AIAM.

Similar fleet modernization programs, also known as "cash for clunkers," have been adopted by many countries and have produced significant increases in automobile sales. At a time when U.S. auto sales have declined by almost 40 percent, the adoption of this program is critically important.

"The nation's economic recovery will not be complete without the revival of the U.S. auto industry," added Stanton. "We encourage Congress to quickly pass this legislation and send it to the President for his signature. The sooner we get a program like this up and running, the quicker it will provide much needed help for consumers, auto dealers, suppliers and small businesses in communities all around the country."