Despite the attempt to boost the economy via auto sales and trying to protect the environment as best as possible, many folks are very much up in arms about the new CARS (Car Allowance Rebate System) program—especially those in the aftermarket auto industry.

The recent induction of the CARS program by the government has raised a few eyebrows as well as fists. The concept of the program was designed to remove gas-guzzling, high-emission vehicles from the roads and to spur sales in a troubled auto market.

GReddy Performance Products sent out a press release on October 10, 2008 stating that it has also filed for bankruptcy in the U.S. This news follows last month’s filing of GReddy’s parent company TRUST Co. LTD. for the equivalent of a U.S. Chapter 11 reorganization plan in Tokyo, Japan. GReddy carefully states, however, that normal business and flow of inventory will continue to operate as normal and will not be affected.