United States Trade Representative (USTR) Ron Kirk has announced that the Japanese government has modified its policy of excluding American-made cars from its version of the "cash-for-clunkers" program.
"I welcome the objective of the modifications that Japan made today to its automotive 'cash-for-clunkers' program," stated Kirk in a press release. "Today's announcement opens opportunities for U.S. autos imported using Japan's Preferential Handling Procedure (PHP) certification process to qualify under that program."
Kirk stated that his office would be examining the details of Japan's new policy to ensure that the changes properly addressed the concerns of the U.S. auto industry.
"USTR will continue to work with our trading partners to ensure that American automakers and workers receive fair treatment in Japan and around the world," he said.
The Japanese "Eco-friendly Vehicle Purchase Program" offers incentives of up to 250,000 yen - about $2,800 - to people who trade older cars for new cars meeting Japanese fuel efficiency standards.
Also See:
Japan's Cash for Clunkers Excludes US Cars
US Cash for Clunkers Generated 700000 Car Sales
Comments
I’ve always had a problem with C4Clunkers. It goes against simple supply and demand logic. We’re pushing new cars into a market already saturated with countless used and repossessed cars (i.e. repofinder.com). Now new cars depreciate faster, more Americans are in debt, and more repossessions are on the horizon.