Edmunds.com did a study on Cash For Clunkers. What they found is many people who used the program were going to buy cars anyway.
Accounting for the cost for people who were not going to buy a car, but were likely enticed by the program, Edmunds estimates the cost per new new car is about $24,000.
Click on the map to bring up an interactive map. Click on a state to see what car was traded in the most and what car was purchased.
Also the percent foreign and domestic.
Source: http://www.ritholtz.com/
Posts
Very interesting.
ReplyDeleteMost often Explorer was traded in for a Toyota Corolla* or Ford Focus
My question - how can you trade in an F150 (15 mpg) for a Sliverado K15 (16 mpg) under the Clunker program???
*Corolla is manufactured by Toyota in the US:
http://www.toyota.com/about/our_business/operations/manufacturing/