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And the CARS Winners Are...

Who benefited most from Cash for Clunkers?

By Joshua Condon Sep 9, 2009 12:37PM
Over on the homepage, MSN Autos regular (and Exhaust Notes writer) Lawrence Ulrich just published a piece detailing the effects of Consumer Assistance to Recycle and Save Act (aka CARS, aka Cash for Clunkers). It's an interesting look at the overall impact of the program, from the overall automotive industry to the individual manufacturers to the consumers who took advantage of the deals. Here are some highlights:
  • It took only five weeks or so to burn through the $3 billion the government set aside for the program
  • Almost 700,000 'clunkers' were traded in for new vehicles and, of that number, 200,000 to 300,000 were purchases that industry experts say likely would not have occurred without the incentives
  • Experts also expect individual dealerships to continue to offer steep incentives to keep the momentum going (and this has already occurred, as Exhaust Notes reported).
  • Ford -- with a 20 percent uptick in market share due to the program -- was the big domestic winner, while Chrysler showed the least growth with only 6.6 percent of Clunkers sales
  • In terms of foreign vehicles, Hyundai made a massive push thanks to Clunkers, moving 47% more cars in August than in July, and posting record sales
For a whole bunch more analysis, plus interviews with actual Cash for Clunkers buyers, read Lawrence's entire piece here.

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