Contents of RauwLetter May 2010
- "Drill Baby Drill" - A Disaster Waiting to Happen ...
- Cash for Clunkers - A Success Story?
- Cozy Up to Your Neighbors
- Quick Tips for Motor Vehicle Fuel Economy
- Burning Less for Better Air Quality
- Subscribe to Our Newsletter
Cash for Clunkers - A Success Story?
August 25, 2009 marked the end of the “Cash for Clunkers “ program. The DOT website states, “The CARS program came to a close Tuesday night with nearly 700,000 clunkers taken off the roads, replaced by far more fuel efficient vehicles.”
A victory for the environment as, “84 percent of consumers traded in trucks and 59 percent purchased passenger cars. The average fuel economy of the vehicles traded in was 15.8 miles per gallon and the average fuel economy of vehicles purchased is 24.9 mpg – a 58 percent improvement.” A victory for the economy. According to preliminary analysis the Cash for Clunkers program will, “Boost economic growth in the third quarter of 2009 by 0.3-0.4 percentage points at an annual rate thanks to increased auto sales in July and August. Will sustain the increase in GDP in the fourth quarter because of increased auto production to replace depleted inventories. Will create or save 42,000 jobs in the second half of 2009. Those jobs are expected to remain well after the program’s close.”
On the surface, Cash for Clunkers seems to have been a governmental success story but when we take a look at the vehicles traded in and then look at those bought, we have to wonder when U.S. manufacturers are really going to get the message.
Top 10 Trade In Vehicles:
- Ford Explorer 4WD
- Ford F150 Pickup 2WD
- Jeep Grand Cherokee 4WD
- Ford Explorer 2WD
- Dodge Caravan/Grand Caravan 2WD
- Jeep Cherokee 4WD
- Chevrolet Blazer 4WD
- Chevrolet C1500 Pickup 2WD
- Ford F150 Pickup 4WD
- Ford Windstar FWD Van
Top 10 New Vehicles Purchased:
- Toyota Corolla
- Honda Civic
- Toyota Camry
- Ford Focus FWD
- Hyundai Elantra
- Nissan Versa
- Toyota Prius
- Honda Accord
- Honda Fit
- Ford Escape FWD
