Business

Get a rebate on new household appliances
by Zuzana Zelenakova

In an attempt to relieve economy as well as the environment the Obama administration is launching new program, based on the same principle as the cash-for-clunkers program, concerning household appliances. Starting late this fall, you can get a rebate $50 to $200 when purchasing a new, more energy efficient and environment friendly appliance. The program is a part of the stimulus plan and the government that is trying to persuade people that it is time to get rid of the old trash in your kitchen and set aside $300 million for the program. "These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the ec! onomy," said Energy Secretary Steven Chu. The details of the program still have to be worked out and they will be particular for every state. The deadline for state governments to specify the plans and send them to Washington is October 15. Since the beginning of the crisis the home appliances industry has slumped significantly. The leading household appliance manufacturers have registered considerable sales drop. Whirlpool that covers about 40 percent of US market has reported 20 percent slump in the first half of the year and its main rival Electrolux is doing no better. Both companies had no choice but to lay off hundreds of people. So it is no surprise that the appliance makers were more than pleased to hear the news. As Electrolux spokesman Tony Evans says it is a "great opportunity to encourage consumers to replace their old appliances." According to the analysts lately people would rather get their appliances repaired in order to save few dollars. Electrolux also say! s it plans to launch new programs parallel with the government! program in order to amplify the desired effect. "We will be ready to go when the new incentive programs hit the market," Evans said.

related story (sgx15214): http://news.yahoo.com/s/bw/20090824/bs_bw/aug2009db200908213...

by Zuzana Zelenakova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 1:10 PM