The federal government will end the “Cash for Clunkers” program effective 8 p.m. Monday because the project is running out of money, although authorities point out that it was a success.

The program began July 24 and was expected to end Nov. 1 but, after just a week, it ran out of the $1 billion originally appropriated by Congress. To make the project last until Labor Day, an additional $2 billion was approved two weeks ago but that’s almost gone, too.

The program, designed to stimulate auto sales and production and get gas guzzlers off the road, had “been successful beyond anybody’s imagination. And we’re now slightly victims of success because the thing happened so quick, there was so much more demand than anybody expected, that dealers were overwhelmed with applications,” said President Barack Obama in his radio address Thursday.

Many dealers are preparing for a flurry of last-minute customers over the weekend, and some are calling and e-mailing customers who were on the fence, perhaps threatening a surfeit of business, now that the project is almost over.

John McEleney, chairman of the National Automobile Dealers Association, said, “It’s not clear at all if there’s enough of the $3 billion to last through the weekend. My concern is if we go past the $3 billion between now and Monday.”

(via The Washington Post)