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International Automakers Urge President to Sign 'Cash For Clunkers' Legislation

ARLINGTON, Va., June 18 /PRNewswire-USNewswire/ -- The Association of International Automobile Manufacturers (AIAM) issued the following statement by President and CEO Michael J. Stanton regarding the U.S. Senate's efforts today to pass the national "cash for clunkers" provision as part of the war supplemental funding bill:

"When this bill passes the Senate, we urge President Obama to quickly sign it into law so it can begin to provide a helping hand to American consumers who need a new car or truck. With the assistance of vouchers worth up to $4,500, we expect the 'cash for clunkers' program to help stimulate the economy and drive an increase in industry sales. Such a program will also radiate economic benefits out to suppliers, dealers and small businesses all around the country.

"Fleet modernization programs have been previously adopted by many countries in Europe and Asia, producing very positive results. With the auto industry playing such a key role in the overall health of the American economy, AIAM believes the successful implementation of this program can play a significant role in fueling the recovery of the nation's economic health.

"In addition to the obvious economic benefits generated by this program, consumers who trade old cars in for new ones will be driving vehicles that are safer for occupants, cleaner for the environment, and more fuel-efficient.

"We would like to express our appreciation to members of Congress who continue to work to pass this important piece of legislation and we urge the President to sign it into law at the earliest opportunity after its passage."

About AIAM - The Association of International Automobile Manufacturers, Inc. (AIAM) is a trade association representing 13 international motor vehicle manufacturers who account for 40 percent of all passenger cars and light trucks sold annually in the United States. AIAM provides members with information, analysis and advocacy on a wide variety of legislative and regulatory issues impacting the auto sector. The Association is dedicated to the promotion of free trade and to policies that enhance motor vehicle safety and the protection of the environment. Member companies include Aston Martin, Ferrari, Maserati, Honda, Hyundai, Isuzu, Kia, Mitsubishi, Nissan, Peugeot, Subaru, Suzuki and Toyota. For more information, visit our website at www.aiam.org.

SOURCE Association of International Automobile Manufacturers

RELATED LINKS
http://www.aiam.org/