Skip to Content
Streetsblog USA home
Streetsblog USA home
Log In
Cash for Clunkers

Citigroup’s “Cash for Clunkers” Contract Worth $7.7 Million

The U.S. DOT never responded to Streetsblog Capitol Hill's request for a copy of the contract that Citigroup -- which remains one-third-owned by the government after taking a $45 billion bailout -- received to process car dealer claims under the "cash for clunkers" program. But Dow Jones did pry loose one key detail on Friday, reporting that the deal is worth "an estimated" $7.7 million.

Given that $2 billion in extra "clunkers" money has been approved since Citigroup began its work, however, it's reasonable to suspect that the bank is now getting more money to administer the delay-plagued car-purchase rebates.

A DOT spokeswoman "declined to comment on whether the size of the contract has grown" when asked by Dow Jones and declined to produce additional information about the deal, such as any ceiling on contractor hours or total value.

Oracle is also a contractor on the program, snagging a $1.6 million deal to run the website for aspiring auto buyers.

In other "clunkers" news, the advertising bonanza sparked by the taxpayer-funded auto rebates is calming nerves in the media industry, while keeping  Andrew Cuomo busy. The New York attorney general sent cease-and-desist letters today to 40 auto dealers whom he says are misleading car owners on the limitations of the government rebates or marketing separate promotions under the "clunkers" name.

One thing the "clunkers" money is still not doing: providing significant environmental benefits, as a team of analysts from the World Resources Institute, Stanford University, and the University of California - Berkeley outlined in an op-ed presentation for the Washington Post.

Stay in touch

Sign up for our free newsletter

More from Streetsblog USA

Report: 16 Million Have No Car Access At All

So why do we plan our cities like everyone can and does get behind the wheel every day?

October 2, 2025

Thursday’s Headlines Fall in the Forest

If reduced or free fares are available but no one knows about them, do they make an impact on transportation costs?

October 2, 2025

A Week Without Driving … Or Biking?

Seattle Bike Blog author Tom Fucoloro challenged himself to experience his city through the eyes of someone who can't operate a personal vehicle — including a bike.

October 2, 2025

Can Pedestrian Pop-Ups Go Permanent in the U.S.?

Can temporary pedestrian pop-ups spur permanent change?

October 2, 2025

Shutdown Showdown: Trump Blames Democrats for Transit Cuts In His Continuing War on Cities, ‘Woke’

It's the second time in as many days that the Trump administration has denied funding over policies it opposes.

October 1, 2025

Marcus Molinaro Is Wrong About Chicago Transit

Local transit advocates have diverse opinions on the best ways to improve transit safety. But there's one thing most of us can agree on. Donald Trump parachuting in soldiers, in an attempt to bully Chicago into submission, is not the answer.

October 1, 2025
See all posts