Cash-for-Clunkers trade-ins account for 7 percent of Hyundai sales in first week
07-11-2009, 03:52 AM
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Cash-for-Clunkers trade-ins account for 7 percent of Hyundai sales in first week
http://www.autoblog.com/2009/07/10/c...f-hyundai-sal/
So far, Hyundai has been the only automaker in the U.S. to accept early trade-ins under the Car Allowance Rebate System (CARS), or Cash-for-Clunkers (CFC), program. Most are waiting for the U.S. Department of Transportation to finalize the program's rules and regulations by July 24th, but Hyundai decided to start early since the program covers all transactions dating back to July 1st. Since the government hasn't set up a reimbursement process for the rebates that range from $3,500 to $4,500 just yet, Hyundai is floating its participating dealers short-term loans in the meantime.
After just one week of accepting Cash-for-Clunkers trade-ins, Hyundai has revealed that these deals added up to 7 percent of its overall sales and could reach 10 percent by month's end. The most interesting statistics, however, are what's being traded in. While Hyundai doesn't break it down by model, according to its numbers, 32 percent were Ford vehicles, 23 percent Dodge and the rest were from Lexus, Jaguar and Mercedes-Benz. Keep in mind, all these customers are trading in for a Hyundai, and 41 percent chose the Elantra! The Sonata came in second with 29 percent of CFC sales and the Accent third with 16 percent.
Judging by this early report on how the CFC program affects sales, it will be very interesting to see what happens after the hammer drops on July 24th and all automakers begin participating. The effect on July sales will likely be small, so we'll have to wait until the end of August to see if Cash-for-Clunkers has really made a difference. For Hyundai, however, it already has.
After just one week of accepting Cash-for-Clunkers trade-ins, Hyundai has revealed that these deals added up to 7 percent of its overall sales and could reach 10 percent by month's end. The most interesting statistics, however, are what's being traded in. While Hyundai doesn't break it down by model, according to its numbers, 32 percent were Ford vehicles, 23 percent Dodge and the rest were from Lexus, Jaguar and Mercedes-Benz. Keep in mind, all these customers are trading in for a Hyundai, and 41 percent chose the Elantra! The Sonata came in second with 29 percent of CFC sales and the Accent third with 16 percent.
Judging by this early report on how the CFC program affects sales, it will be very interesting to see what happens after the hammer drops on July 24th and all automakers begin participating. The effect on July sales will likely be small, so we'll have to wait until the end of August to see if Cash-for-Clunkers has really made a difference. For Hyundai, however, it already has.
07-12-2009, 10:55 AM
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The Sonata is built in Alabama. I guess thats not "American" enough for you. Oh right its only an American car if its headquarters is located in the US and they pay US taxes. Wait no its about American workers, no wait its about corporations getting all corporationy; wait what? Ah hell, Buy American! Yeah thats it. Down with the imports built in the US by US labor. Yeah!
07-12-2009, 11:07 AM
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It may be assembled in the US, but much of its development and suppliers are still most likely outside of the US. If you want a mainly American car buy a Camry.
https://www.camaroz28.com/forums/sho...d.php?t=696565
https://www.camaroz28.com/forums/sho...d.php?t=696565
07-12-2009, 05:46 PM
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For what it is, Cash for Clunkers in basically designed to talk older trucks, SUV's and large cars off the road and replace them with smaller more fuel efficient cars...
A reality is that the VAST MAJORITY of the trucks and SUV's that qualify for the program and are old enough that they are worth less than $4500 are from the Big 3...
Hyundai is pulling forward some sales with their strategy. It would be nice if GM could do the same.
One thing I noticed is that if I wanted to use my 94Z for this program, (it qualifies with combined 18mpg) the only cars that GM makes that I can get the $4500 credit for are the Aveo and the Cobalt XFE... In the small car game, GM isn't even competitive with Hyundai... Even the last generation Elantra was hands down better than the current Cobalt... The Cruze can't arrive fast enough...
A reality is that the VAST MAJORITY of the trucks and SUV's that qualify for the program and are old enough that they are worth less than $4500 are from the Big 3...
Hyundai is pulling forward some sales with their strategy. It would be nice if GM could do the same.
One thing I noticed is that if I wanted to use my 94Z for this program, (it qualifies with combined 18mpg) the only cars that GM makes that I can get the $4500 credit for are the Aveo and the Cobalt XFE... In the small car game, GM isn't even competitive with Hyundai... Even the last generation Elantra was hands down better than the current Cobalt... The Cruze can't arrive fast enough...
07-12-2009, 06:01 PM
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I cornered Sandy Levin here in Detroit about why the C4C program is available on imports. It was the basic politician talk, but I can see through that since I'm aiming to be one myself.
In short - he wouldn't admit that the focus of the program veered of course. Hey, it's what happens when the Democrats want to bail GM out. They have to buckle to Republican requests on other issues - like this one.
In short - he wouldn't admit that the focus of the program veered of course. Hey, it's what happens when the Democrats want to bail GM out. They have to buckle to Republican requests on other issues - like this one.
07-12-2009, 07:44 PM
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The Sonata is built in Alabama. I guess thats not "American" enough for you. Oh right its only an American car if its headquarters is located in the US and they pay US taxes. Wait no its about American workers, no wait its about corporations getting all corporationy; wait what? Ah hell, Buy American! Yeah thats it. Down with the imports built in the US by US labor. Yeah!
Really? Where did you get this information?
07-12-2009, 07:49 PM
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Originally Posted by Z28CamaroPower!
Really? Where did you get this information?
http://www.jdpower.com/autos/ratings...e-#page-anchor
07-12-2009, 09:30 PM
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If you do minimal research on the subject, you'll find that Big Three vehicles have a higher percentage of locally (North American) sourced parts. You'll also find that the Big Three employ more people here and that there is a huge difference in where the profits end up.
Really? Where did you get this information?
Really? Where did you get this information?
If you've spent much time behind the wheel of a Cobalt and an Elantra, you wouldn't ask the question... The cobalt is much better than the Cav it replaced, but the Elantra has been much better in virtually every way since the XD models came out.
I am very hopeful that the Cruze will close that gap dramatically. I'd be really impressed if it was actually better than the competition, but I think it's more realistic to hope that it will be top 5 in its segment (in terms of quality not sales). That would be a huge improvement over the Cobalt.
07-12-2009, 09:53 PM
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If you do minimal research on the subject, you'll find that Big Three vehicles have a higher percentage of locally (North American) sourced parts. You'll also find that the Big Three employ more people here and that there is a huge difference in where the profits end up.
Also, by your logic, it is simply the aggregate number of Americans employed that makes the product "American", superb.
07-12-2009, 11:32 PM
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They're starting this about 3 weeks early....so assuming more and more people figure this out thats 2-3,000 cars before the other Car makers even get started!
07-13-2009, 08:24 AM
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It's been awhile since I've read the CARS program but to get the $4,500 your next vehicle needs to get 10 MPG. The $3,500 starts with 4 MPG for cars and I think you have to get 2 MPG better for SUV/Truck level 1.
If I read that correctly, you could turn in a 18 MPG car for a 20 MPG SUV/Truck. If this is true, I think it will swing back in Ford/GM and Toyata's favor. Correct me if I'm wrong. It's been a bit since I read the bill and it keeps changing.
If I read that correctly, you could turn in a 18 MPG car for a 20 MPG SUV/Truck. If this is true, I think it will swing back in Ford/GM and Toyata's favor. Correct me if I'm wrong. It's been a bit since I read the bill and it keeps changing.