UPDATE 1-U.S. to suspend auto "clunkers" program

Newswire

(Updates with background) WASHINGTON, July 30 (Reuters) - The Obama administration will suspend a $1 billion program intended to spur U.S. auto sales after it approached its funding limit after only a few days, government and industry sources said. The so-called "Cash for Clunkers" program authorized up to $4,500 to car buyers who traded in their gas guzzlers for more fuel efficient vehicles. The program was expected to run through Sept. 30 but the sources said the administration would ...

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