Cash 4 Clunkers “Wildly Successful?”

[Wingfoot]

Cash for Clunkers Final Numbers -
Americans Trade Domestic Vehicles For Imports -
Toyota the Big Winner!

More than 80 percent of the vehicles turned in were trucks and sport-utility vehicles, the government said. The top-selling new car is the Ford Focus, followed by the Toyota Corolla, Honda Civic, Toyota Prius and Toyota Camry. The new vehicles on average get 25.4 miles per gallon, compared with an average of 15.8 mpg for the trade-ins.

The clunkers program was meant to stimulate sluggish auto sales and spur people to buy more fuel-efficient cars. Congress approved it in mid-June, and the program was supposed to last until Nov. 1 or when the funds run out. However, on Friday the House hastily moved to add $2 billion to the program by using money intended for energy loan guarantees.


C.A.R.S. Program Statistics (PDF)
Wednesday, August 26th, 2009

Dealer Transactions
Number Submitted: 690,114
Dollar Value: $2,877.9M

Top 10 New Vehicles Purchased

1. Toyota Corolla
2. Honda Civic
3. Toyota Camry
4. Ford Focus FWD
5. Hyundai Elantra
6. Nissan Versa
7. Toyota Prius
8. Honda Accord
9. Honda Fit
10. Ford Escape FWD

New Vehicles Manufacturers

1. Toyota 19.4%
2. General Motors 17.6%
3. Ford 14.4%
4. Honda 13.0%
5. Nissan 8.7%
6. Hyundai 7.2%
7. Chrysler 6.6%
8. Kia 4.3%
9. Subaru 2.5%
10. Mazda 2.4%
11. Volkswagen 2.0%
12. Suzuki 0.6%
13. Mitsubishi 0.5%
14. MINI 0.4%
15. Smart 0.2%
16. Volvo 0.1%
17. All Other <0.1%

Top 10 Trade-in Vehicles

1. Ford Explorer 4WD
2. Ford F150 Pickup 2WD
3. Jeep Grand Cherokee 4WD
4. Ford Explorer 2WD
5. Dodge Caravan/Grand Caravan 2WD
6. Jeep Cherokee 4WD
7. Chevrolet Blazer 4WD
8. Chevrolet C1500 Pickup 2WD
9. Ford F150 Pickup 4WD
10. Ford Windstar FWD Van

Vehicles Purchased by Category

* Passenger Cars: 404,046
* Category 1 Truck: 231,651
* Category 2 Truck: 46,836
* Category 3 Truck: 2,408

Vehicle Trade-in by Category

* Passenger Cars: 109,380
* Category 1 Truck: 450,778
* Category 2 Truck: 116,909
* Category 3 Truck: 8,134

84% of trade-ins under the program are trucks, and 59% of new vehicles purchased are cars. The program worked far better than anyone anticipated at moving consumers out of old, dirty trucks and SUVs and into new more fuel-efficient cars.

Average Fuel Economy

* New vehicles Mileage: 24.9 MPG
* Trade-in Mileage: 15.8 MPG
* Overall increase: 9.2 MPG, or a 58% improvement

Cars purchased under the program are, on average, 19% above the average fuel economy of all new cars currently available, and 59% above the average fuel economy of cars that were traded in. This means the program raised the average fuel economy of the fleet, while getting the dirtiest and most polluting vehicles off the road.

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[yahoo]

so basicly .........this program cost the taxpayers about 3 billion ..for us to get a return of about 300 million??? obama is so smart????

[USIC1]

so basicly .........this program cost the taxpayers about 3 billion ..for us to get a return of about 300 million??? obama is so smart????

and it will also benefit SIRI...

[AULupstate]

I just wonder WHERE the 2 Billion 700 Million left over from the program REALLY went???????

Transparent like MUD!!!!!!!! That's this administrations motto!

[yahoo]

ACORN is probably holding on to that money some kind of way???? haahahhaahahha

[Wingfoot]

Today I did a locate at the back of a metal recycling center. This is a drop-off center that buys steel (mild steel, cast steel, stainless steel, etc), copper, aluminum, catalytic converters, old hot water heaters, washing machines, clothes dryers, etc. The sight of newer trucks & cars lined up for dismantling was out of character for this business. I asked a worker what's the deal with the cars. He said the boss bought 200 "clunkers" at $100 each ($200,000), stripped them of the valuable metals and is crushing what's left. The boss has already made $1.8 million on the first 200 vehicles and plans to get more clunkers! WoW! I guess the Cash 4 Clunkers IS “Wildly Successful” for those entrepreneurs smart enough to work the system to their advantage.

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[RD_Wrangler]

SHHHHHH!!!!!

Dammit Wing!!!

HUSH!

Between transmissions (aluminum...glad my dad kept the smelter), and cat. converters, not to mention used tires...I might just pay for my kids college before this thing is through!

Ya'll didn't think I dropped off the face of the Earth did you? *evil grin*