And the CARS Winners Are...
Who benefited most from Cash for Clunkers?
- 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
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