"Cash 4 Clunkers" More data to share.

[Ericthejet]

from TTAC.com


The Toyota Corolla has overtaken the Ford Focus as the first choice for American consumers trading their government-approved clunker for a federally subsidized new whip. According to Department of Transportation stats, ToMoCo has now captured three of the top five slots on the Cash for Clunkers (a.k.a. C.A.R.S.) hit list: Toyota Corolla, Ford Focus, Honda Civic, Toyota Prius, and Toyota Camry. Or as, the official release puts it, “Four of the top ten selling vehicles are manufactured by the Big Three. Of non-Big Three purchases, preliminary analysis suggests that well over half of these new vehicles were manufactured in the United States.” Did they mention that the “foreign nameplates” are produced in the U.S.? They did not. Nor did they offer a similar analysis of the country of origin for the trade-ins. Guess what percentage of the Cash for Clunkers trade-ins are American brands?

Correct. 100 percent. Here’s the list:

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

OK, so here’s the money shot: the stats that convinced House Speaker Nany Pelosi that the Cash for Clunkers program was green enough for her valley.

Average Fuel Economy

New vehicles Mileage: 25.3 MPG
Trade-in Mileage: 15.8 MPG.
Overall increase: 9.6 MPG, or a 61% improvement

Cars purchased under the program are, on average, 21% above the average fuel economy of all new cars currently available, and 63% above the average fuel economy of cars that were traded in. This means the program is raising the average fuel economy of the fleet, while getting the dirtiest and most polluting vehicles off the road.

And if that’s not enough reason to justify another $2 billion in federal funding for the Cash for Clunkers program, check out the geographical spread. There isn’t a politician in these here United States whose dealers haven’t benefitted from the program. As well they should; this is their bailout.

ALABAMA: $7,087,000
ALASKA: $1,166,000
ARIZONA: $6,527,500
ARKANSAS: $4,455,000
CALIFORNIA: $39,926,500
COLORADO: $7,758,000
CONNECTICUT: $8,916,000
DELAWARE: $1,562,000
FLORIDA: $26,947,000
GEORGIA: $12,469,500
HAWAII: $963,500
IDAHO: $3,395,000
ILLINOIS: $33,740,000
INDIANA: $18,729,500
IOWA: $12,184,500
KANSAS: $9,729,000
KENTUCKY: $9,178,000
LOUISIANA: $5,400,000
MAINE: $5,450,000
MARYLAND: $11,757,000
MASSACHUSETTS: $13,844,500
MICHIGAN: $44,399,500
MINNESOTA: $30,182,500
MISSISSIPPI: $2,431,500
MISSOURI: $16,101,500
MONTANA: $1,732,500
NEBRASKA: $7,392,000
NEVADA: $2,009,000
NEW HAMPSHIRE: $5,474,500
NEW JERSEY: $13,744,500
NEW MEXICO: $2,366,000
NEW YORK: $32,440,000
NORTH CAROLINA: $18,472,000
NORTH DAKOTA: $3,302,000
OHIO: $37,653,000
OKLAHOMA: $7,532,000
OREGON: $10,229,500
PENNSYLVANIA: $32,994,000
RHODE ISLAND: $2,392,000
SOUTH CAROLINA: $7,164,000
SOUTH DAKOTA: $4,033,500
TENNESSEE: $11,117,000
TEXAS: $35,010,000
UTAH: $5,095,000
VERMONT: $2,376,000
VIRGINIA: $18,376,500
WASHINGTON: $12,351,000
WEST VIRGINIA: $2,769,500
WISCONSIN: $24,042,000
WYOMING: $530,000

[Pittenger5]

I wonder how many of those cars were actually worth less than 4500 bucks.

[Jim]

Wirelessly posted (BlackBerry Giggity: BlackBerry8330/4.5.0.160 Profile/MIDP-2.0 Configuration/CLDC-1.1 VendorID/104)

Interesting

[SSearchVT]

I wonder how many of those cars were actually worth less than 4500 bucks.

I'm wondering how many of the people that are trading in older cars can actually afford the car payments they're signing up for...

[JRide]

I gotta say.....I've been looking for a new truck these past couple of weeks and the friggin dealerships are PACKED! I just went to a Toyota dealer who literally had 11 new cars left to sell. Tons of clunkers on all of the dealer lots. He mentioned his dealership has 100k worth of clunkers sitting on the lot.

I've seen some real junk sitting on the lots whereas I've also seen some pretty decent vehicles.

[TheIglu]

I was about to buy a brand new Corolla, then the buyer for my car backed out at the last hour (literally) and the next day the cash for clunkers thing emptied out the inventory.

Oh well, I'll just wait until they are begging for business again.

[richw]

Funny 3 years ago a personal vehicle "car" was the route for poverty and homeless to get jobs and start a life.

Now we are allegedly crushing good running cars rather than helping the poor. Germany found an entire freighter filled with reportedly "crushed cars" heading for sale in Africa. American dealers only want running cars to be crushed ????

The money 3500 to 4500 is being borrowed from the Oil Arabs and the Chinese to be paid back by your children

My hats off to the United Auto Workers that they can get the government to spend 3 billion dollars and they will get maybe 200 million out of it.

Health care next followed by the end of manufacturing cap and trade.

[DuncanMoto]

WOW Look at the numbers for Texas dealers.

[ssg]

It's interesting to me that Michigan's numbers are so high...wonder how much of that went back into domestics (there).