http://www.autoblog.com/2009/08/26/f...-sales-2-877b/

also why did they count Ford Escape AWD and FWD as different models.

if the average clunker was to be driven 30,000 more miles then the fuel savings from the new cars for those miles is 700 gallons per car. 490 million gallons saved total at $3 a gallon saves the US approximately $1.5 Billion in imported fuel. If 25% of that rebate money comes back in the form of sales tax and income tax that is $720 million in revenue for the gov't to pay this program back. Then there is all the money that people spend that kept their jobs thanks to this program and the income tax from that and the businesses, restaurants etc.. they patron. The savings from not having to pay unemployment to all those jobs that would have been lost. I bet at the end of the day this is revenue neutral for the Gov't, and even though a lot of the money went to foreign companies, a lot of money will be saved by not importing as much foreign oil which should also help keep oil prices lower.

 

Good info......that actually a lot of fuel savings

 

How much fuel/energy is wasted making a new vehicle as compared to keeping an older, less efficient one? Funny how that never gets taken into account.

Just saying...

 

I think the program has both good and bad points. A few things I'd like to dig up now that the program is complete:

1. What percentage of cars sold on C4C rebates were American?

2. Is the economic stimulus quantifiable? If so, what are some numbers supporting a win for the program?

3. What's next? Consumer confidence has been lightly stoked as of late, unemployment is ripe and is starting to drop (at least here in Washington), the auto industry had a good couple of months. The C4C program likely created a wave, but as every wave passes, there's a void before the next one.

 

The last numbers I saw were that 42% of the cars purchased were domestic, and 58% were foriegn.

This sickens me.

 

this could also help the repo business when all these broke ****s with new cars cant afford to make the payments

 

It's worse than that. The headline in today's Detroit News reads "Detroit Three Market Share Sinks as 'Clunkers' Ends".

http://www.detnews.com/article/20090...Clunkers--ends

The Transportation Secretary in the article sounds totally orgasmic over the success of the program. Looking at these numbers, the problems with the dealers being reimbursed, and the concept of the program in general, I remain skeptical.

 

That is a little disheartening. I was when I saw right around 50%. I thought that was a good number considering American car companies are still in a turnaround phase--to me it meant the public still has a lot of confidence in the American 3 in comparison to what, at least 9 other foreign brands? 42% isn't bad...but not as good as I had hoped.

And re: new car payment and repos...I don't think the average deal was too bad. When you consider a Ford Focus with existing rebates on the hood is right around $10,500... You get a $4500 C4C rebate for say, a '98 Ford Explorer that's worth $2000 with a slipping transmission and an overheating problem. Add 10% for tax, title for an OTD price of right around $7,000...

On a 5-year, that's around $125/month.
2- year, that's around $300/month. Not too bad for a brand new car.

Considering a replacement trans for that Explorer is $2000 installed, plus a new car warranty with no unexpected repair expenses for at least 3 years...the deal can be advantageous when you factor in reduced fuel and maintenance costs. Of course, you add two variables -- insurance increases if you need to carry additional insurance for the new vehicle, and depending on your state, registration renewal fees for a new vehicle...

 

So we spent 4500 bucks each to help 700,000 people buy a vehicle they aparently couldn't afford?

 

Who says they couldn't afford them. I think they pulled a lot of thrifty people out of the wood work.

Rumor has it the next green/stimulus is cash for old refrigerators. I'll be all over that one. I'd love to get $200 for my crappy 16 year old fridge if I buy a brand new energy star unit.

 

This is just my opinion and it runs on this assumption: People were driving beaters because they couldnt afford a new car. Through the program they traded in their likely paid-for rides they must have felt they couldnt afford for a new car, new car payment, new car tag (In Mississippi a clunker tag is likely $25 bucks, a new vehicle tag is easily over $450/yr) and insurance difference.

IOW I see hundreds of thousands of Americans jumping deep into debt in time of recession. A time when it might be best to keep beating the beater and put the extra cash towards getting out of debt or making investments in a cheap stock market or great buys on quality used cars with low miles and low sale prices.

 

That is the problem, while stopping your spending might be good for an individual it is terrible for the society. That is what causes a great depression. Companies and businesses need customers to survive and provide jobs.

Also the US dollar is a debt backed currency = http://www.youtube.com/view_play_lis...y+as+debt+full

 

You have GOT to be kidding me. What, are the fridge manufacturers hurting now?

 

No, that one is all about getting people to use less energy by upgrading to Energy Star products. I believe they will make retailers take the old ones. Otherwise people will just put them in their garages and basements thus negating the point of getting a new Energy Star product.

There is a looming energy crisis, global oil production has peaked and a lot of the super giant fields are in decline. Mexican oil production is declining rapidly and they are our #3 supplier. What happens when Mexico stops exporting and starts competing with us for imports? Prices are going to have to go up, a lot. And how do we replace the missing Mexican oil? The only way is to use less. Using less electric on things like a refrigerator frees up the grid for electric cars like the Volt.

 

This probably will casue the double dipping of the recession after sales dry up, similar to the hole left after the 9/11 incentives used to pull forward too many sales.