Sec. Ray LaHood on 'Cash for Clunkers'

In today's first hour, Transportation Secretary Ray LaHood told host Tom Ashbrook that there will be an announcement later today on the “Cash for Clunkers” program.

LaHood said the program has been "wildly successful" and has sold "thousands of cars." But like a good car salesman, he made clear it’s a limited-time offer:

TOM ASHBROOK: What’s the word to consumers, to car owners, Mr. Secretary? Is there still time for them to get out there and get cash for clunker?

SEC. RAY LAHOOD: If you have a clunker, and you qualify and you want to buy a new car, now’s the time to do it.

TOM ASHBROOK: How many more days do they have?

SEC. RAY LAHOOD: Well, we’ll be announcing that today.

LaHood made the comments early in the first segment of the show. You can listen to the full interview here.

UPDATE: It's official. The Transportation Department has announced that the "Cash for Clunkers" program will end on Monday, Aug. 24, at 8pm ET, and describes the "wind-down" strategy.