Did Cash for Clunkers Crush Classics? Not Likely.
Now that the smoke has cleared, was Cash for Clunkers a holocaust for classic cars? This has long been the contention of old car collectors, who have waged a rear-guard action against such programs, state and federal, complete with heated language. Scrappage programs, said the Specialty Equipment Market Association (SEMA) last April, “hurt thousands of independent repair shops, auto restorers, customizers and their customers across the country. This industry provides thousands of American jobs and generates millions of dollars in local, state and federal tax revenues.” In response to a similar California program, the association accused the state of trying “to lure into the scrappage program the pre-1976 collector cars that help drive the restoration market and the passions of many in…
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