The US cash-for-clunkers car scrappage scheme has become a victim of its own success, with the government announcing on Thursday that the incentives will come to an end on Monday evening, just a month after they were introduced.
The decision was taken to ensure that payments under the scheme do not exceed the $3bn allocated by Congress.
By Thursday, the transportation department had recorded 457,000 transactions, worth $1.9bn in rebates.
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