Will Dugan
8/5/2009
Junkyards Benefit from Cash For Clunkers
Most people participating in the Cash for Clunkers program are excited about the cash. However, many area junkyards are excited for the clunkers. The Government’s new Cash for Clunkers program allows people to turn in their old gas guzzling cars for a $3,000 to $4,000 dollar government subsisted credit towards a more fuel efficient one. So many people have used the program, the Government has added an additional $2 billion dollars in funding to keep it going. Dealers and scrap yards have 180 days to strip the cars of useful parts. Then the cars, engines, and drive trains, have to be destroyed. This is good news for metal recyclers who expect to see a surge in cars for scrap.
“If the market is up, we can generate a good amount of revenue from it,” said Mike Van Camp, the Director of Scrap operations for Metalico Aluminum Recovery in East Syracuse.
Van Camp said that the previously low price of metals have deterred people from bringing in scrap, which forced him to lay off some of his workforce. However, This influx of cars mixed with rising metal prices will mean more money for Van Camp, and other scrap yards in the area he said.
No comments:
Post a Comment