Cash for Clunkers Bill Scraps Trade-In Values, Analyst Warns

The “cash-for-clunkers” bill approved Wednesday by the U.S. House of Representatives and awaiting Senate passage is drawing mixed reviews.

While some industry observers predict an “immediate” sales uptick, in line with the implementation of similar measures in Europe, others say its effects will be negligible.

The bill portends credits of up to $4,500 for consumers scrapping vehicles that get 18 mpg (13 L/100 km) for new or used cars that achieve at least 22 mpg (11 ...