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Hyundai Canada sweetens clunker trade-in

TORONTO, Aug. 20 (UPI) -- Automaker Hyundai Canada has unveiled a financial initiative to bolster federal incentives to trade in old cars for more fuel-efficient models.

The program offers between $500 to $1,000 to car owners who participate in the federal government's Retire Your Ride program, the Toronto Sun reported.

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The federal program offers $300 for those who trade in 1995 or older cars.

Hyundai Canada President Steve Kelleher said the company had allocated more than $2 million for the rebates, enough for 4,500 cars.

Kelleher said someone who scraps an older car and purchases an Accent sub-compact would get $3,600 off the manufacturer's suggested retail price as part of another Hyundai promotion, receive $300 under the federal program and also get $500 under the carmaker's clunker rebate, the Toronto Star said.

Similar government trade-in incentives are ongoing in the United States, Britain, Germany and France, based on environmental and economic stimulus reasoning.

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