Industry News

'Cash for Clunkers' Introduced in Congress

U.S. auto industry lobbyists and lawmakers are discussing 'Cash for Clunkers', a proposal that would pay motorists to replace older cars with more fuel-efficient vehicles According to government and industry sources, the measure is running into trouble because of disagreements over its details. Read More

Justice Department Launches National Title Database

In order to reduce auto fraud, theft and other vehicle-related offenses, the U.S. Department of Justice has launched the National Motor Vehicle Title Information System (NMVTIS).  This online computer system allows state motor vehicle administrators to verify title and brand data before they approve re-titling of specific units.  Currently, the system is now used in 36 states.   Read the press release here:

Dealership Customers May Receive Tax Break

The Senate has approved a plan to allow many car buyers to claim an income tax deduction for sales taxes paid on new autos and interest payments on car loans.  This would apply to the first $49,500 in the price of a new car purchased between last Nov. 12 and Dec. 31, 2009. Individuals with incomes of up to $125,000 and couples earning as much as $250,000 could qualify, including those who do not itemize their deductions.

The plan still is subject to revision or rejection as it works its way toward final passage. Read the story: