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MONDAY, NOVEMBER 23, 2009
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700K Cars Sold Under Clunkers

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(Newser) – The final numbers for the Cash for Clunkers are in, and they’re pretty rosy, the Los Angeles Times reports. Dealers had until yesterday to file for rebates, and the total was 690,114 new cars sold—and 690,114 clunkers traded in—for a total of $2.9 billion, just shy of the congressional allotment of $3 billion. “This is one of the best economic news stories we've seen,” says Transportation Secretary Ray LaHood.

Domestic automakers might not be so keen on the program: The top three vehicles bought under the program were foreign-made, led by the Toyota Corolla. All top-10 trade-ins were US-made, led by the Ford Explorer. The average fuel economy for the new vehicles was 24.9 mpg. Not so hot, you say? That’s an increase of 58% over the average mileage of the trade-ins.

Chart shows top 10 vehicle purchases and trade-ins to date and fuel economy of the vehicles for the cash for clunkers program.
Chart shows top 10 vehicle purchases and trade-ins to date and fuel economy of the vehicles for the cash for clunkers program.   (AP Photo)
Transportation Secretary Ray LaHood.
Transportation Secretary Ray LaHood.   (AP Photo)
A car dealer smiles as he tears down an ad banner, as the Cash for Clunkers government program comes to an end Monday night.
A car dealer smiles as he tears down an ad banner, as the Cash for Clunkers government program comes to an end Monday night.   (AP Photo)
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odowd80
Aug 26, 09 3:09 PM CDT
Another great accomplishment for the Dems. Its nice to see a domestic agenda that makes sense. Its about time we spent some money on our own citizens rather than on Iraqis. And a program like this is way better than a tax cut check in the mail. It guarantees ALL the money gets spent, and ALL the money boosts the economy. Now, as a result, more Americans are going back to work. Reply
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Reader65069154
Aug 27, 09 7:40 AM CDT
GM bailout phase 2: 600,000 Ford and GM cars were taken off the roads, replaced by superior Japanese vehicles. What a great accomplishment.
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RobN
Aug 26, 09 4:50 PM CDT
Better wait to see the rest of the year's car numbers. If all we did was condense the year's total sales into a month, then I don't see much to jump up and down about. Reply
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justme
Aug 26, 09 5:57 PM CDT
I'm hoping that this is a real boost in sales but I'm betting the rest of the year stinks. If it does, then the 3 Billion was a waste. Reply
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