On Feb. 17, President Obama signed into law the American Recovery and Reinvestment Act. The $789 billion economic stimulus legislation is comprised of $507 billion in spending programs and $282 billion in tax relief. The legislation includes significant new funding for fleets, such as $300 million for diesel emission retrofit grants; $300 million to establish a grant program through the DOE's Clean Cities Program; and $300 million for acquisition of energy-efficient vehicles by the federal fleet
Current Used-Vehicle Market Conditions and Outlook
CARMEL, IN– Wholesale used-vehicle prices showed continued softness in February. Average prices for vehicles sold by all the major seller groups (manufacturers, fleet and leasing companies, and dealers) were down on a year-over-year basis in February.