Following a depleted budget for the Cash for Clunkers Act, which was supposed to end last Friday, the Senate has approved an additional $2 billion additional fund before retiring for the weekend. President Obama was also quick to sign the legislation, allowing the replenishment without any interruption. That’s good news for all guzzler owners who are going for the trade in the days to come. Official estimates claim the new funding to last through Labor Day.

The Clunkers Act is the first successful program of the Obama government to recuperate the country’s automobile industry. We have seen the bankruptcy of Chrysler, the heavy financial burdens of General Motors, as well as the other major automakers of the country. This Act is also one of the ways to solve the growing air pollution. The initial fund was $1 billion. $775 million were immediately spent for nearly 185,000 newer, more efficient vehicles in exchange of guzzlers.

The idea of the air car is really stunning. But what can we expect when an aero firm starts to build automobiles? Of course, the result will always be a fusion—either a flying car or a ground transport powered by air.

EADS has designed and developed, even built the prototype of the only air car in the world. In bubble-like body, the air car sports a 180 cubic centimeters twin-cylinder engine that can power up to 5.4 horsepower and 11 pound-feet of torque. This power can be continuously generated over a span of 90 miles at the top speed of 30 miles per hour. In the future, there are talks to increase the speed to 50 miles per hour.

For commuters, this will be a very good ride to own and depending on enthusiasts’ response, it may become a cheap alternative for guzzlers. Manufacturer claims it will only cost a penny per mile, comparatively small compared to eco cars in the automobile world.

Getting a Sebring in place of your old guzzler can earn you as much as $9,000 in cash or zero-percent financing for 72 months at any Chrysler dealer! That is made possible by the auto manufacturer’s new incentive scheme. The idea is to tie up with the government’s Clunkers Act, that way, the rebate doubles.

The 2009 Sebring is an efficiency rating of 21 mpg in city and 30 in highway, making it one of the two highly efficient cars of the brand. The selling price starts at $20,515 to $35, 125, which you can get at lower price when the doubled incentive is taken off.

Aside from Sebring, Chrysler offers the same incentive program to Jeep and Dodge; although, there are different amounts to each model. There are also some that are not included in the incentive scheme. Among these are Jeep Wrangler, Dodge Challenger, Sprinter, and SRT series.

Under the Chrysler trademark, the Chrysler 300 gets $3,500 customer cash allowance while Town & Country as well as Aspen gets $4,500.

You can say goodbye to your dream of owning one of the most efficient automobiles in town as the Cash for Clunkers Act may end on Friday—That is if the senate do not agree to release additional $2 Billion fund.

What happened last July in the automotive industry was really exotic! Auto enthusiasts and fleet managers have crowded the show rooms of virtually all American automakers like Ford, Cadillac, and General Motors! Out of that, the first billion of funds is almost used up. If the auto trend continues, the Cash will end on or before Friday and to resume only after the additional requested $2 billion fund is approved and release.

Since the Obama Administration started to restore the primary American businesses, Cash for Clunkers is one of the most significant projects. Its success is proven in the way American enthusiasts responded, making me wonder if this Act will be adopted by other government.