Mercury Rising 鳯女

Politics, life, and other things that matter

Cash For Clunkers A Rousing Success

Posted by Phoenix Woman on August 2, 2009

A Siegel points out the following facts about what a mere $1 billion has done for the US economy:

# 79% of clunkers being traded in so far are SUVs, trucks and vans with over 100,000 miles

# 84% of the new vehicles purchased are passenger cars

# Clunker consumers are getting an average 69% MPG improvement, which will result in an average savings of $750 in gas bills per year

# During the week that the ‘Cash for Clunkers’ program was launched, GM’s small car sales increased 54.8 percent over the preceding week

# The leading Ford vehicle being purchased under the program is the 28 mpg Ford Focus at nearly 30 percent of all Ford sales

# Toyota reports that 78% of their Cash for Clunkers volume were the Corolla, Prius, Camry, RAV 4 and Tacoma, with a resulting average of 30 mpg

# Hyundai is reporting a 59 percent increase in fuel economy compared to the old vehicle—which averaged 140,000 miles

In other words, even without heavy incentives to do so, the people taking advantage of C-for-C aren’t replacing old guzzlers with new guzzlers, but with new non-guzzlers. That alone will help the environment, as less fuel used means less emissions out the tailpipe. 250,000 clunkers got taken off the streets, replaced by vehicles that are much more efficient and giving both auto makers and auto dealers a much-needed shot of cash at just the right time.

The program is so successful that, as we all know by now, it ran out of money — but Congress is poised to inject another $2 billion into it. This is very, very good news.

12 Responses to “Cash For Clunkers A Rousing Success”

  1. It’s a fair assumption that when you have an omnibus stimulus package some things are going to work better than others, and now that we see what is working we can invest more in those.

    • Exactly. We’re talking about something that a) delivers an immediate stimulus to our manufacturing and retail sectors, and b) helps the environment — and does it for a relative pittance.

      If a tenth of the dough that went to Goldman Sachs was invested in this, the recession would be over by Christmas.

  2. jo6pac said

    Thanks for the info, I was worried that people traded in the old suv and to buy another one that got better mileage. Wow maybe the public has learned something. If they could be conviced to ask the congresscritters to get out of the wars, stop giving banksters money, and give the public Health Care like they have. Just Dreaming.
    jo6pac

  3. mccmack said

    Pardon me. I think you people are crazy.

    Why destroy these perfectly good cars when some poor person might use one to commute a few miles to work for several years.
    Your thinking is sick, sick, sick!!

    Move to France, you idiots!!!!

    • Charles II said

      Um, Mccmack?

      To quote, “79% of clunkers being traded in so far are SUVs, trucks and vans with over 100,000 miles” In other words, even if they can function for more years, they suck up huge repair costs, not to mention costing people a fortune in gas.

      Your love for the poor seems to involve keeping them poor.

      And your apparent hatred for the French apparently involves complete ignorance. They now have a conservative government.

      (as yet another mindless troll flies off into darkness, unwilling to submit his ideas to scrutiny and debate)

  4. jo6pac said

    France, oh my 1790 was a good year and how we need that here.

    Charles every hear were LB is, I sure miss his insight to the $ world
    jo6pac

  5. Stormcrow said

    This will next not surprise you. Glenn Beck thinks the Cash For Clunkers program is a nefarious plot to take over your PC.

    Glenn Beck really need to get back on his meds.

  6. karenc said

    If your clunker doesn’t qualify for a cash for clunker voucher, you can get a tax deduction instead if you donate car to charity. Your car donation will also help a needy charity. Details at http://www.cars4charities.org.

  7. […] closing: a few facts and one concern on “Cash for Clunkers“, a government success story which will save […]

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