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The government's Cash for Clunkers program has definitely given a slight jolt to the automotive industry. In less than a week the program reportedly ran out of funding that was supposed to last until November, but fortunately the government has added more money although who knows how long that will last. In the last week, 47 percent of the sales attributed to the program have gone to the Big 3. Through Saturday afternoon 80,500 transactions had taken place.
In addition to nabbing almost half of the sales, Ford can also be happy knowing that the Ford Focus was the most popular vehicle in the program.
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Comments (10)
In about a year people are going to be wishing they had kept their clunkers.
Posted by Patrick | August 3, 2009 6:26 PM
Posted on August 3, 2009 18:26
Imagine if the new Fiesta had been out in time for this program!! man i cant wait for that car! it's going to KILL the Yaris and the Fit! there's no way it wont! It has sportier handling and more getupandgo than both of them, and the Honda Fit won motor trend car of the year because of it's "sportiness." Not to mention the praised Euro Focus is coming to the states to get launched alongside the Fiesta this coming spring i believe, thats a combo no one will be able to beat! The Fiesta and Focus are going to dominate the compact sedan market! These 2010 and 2011 model year Fords are the ones that this company has needed to return to competition with the foreign autos! maybe even beat them in the market where no domestic has stood a chance in years and years!
Posted by Phil | August 3, 2009 10:21 PM
Posted on August 3, 2009 22:21
If the Focus was alreadying selling well before this, just imagine how well the new Focus will sell when it comes out next year.
Posted by SteelCity1981 | August 3, 2009 11:29 PM
Posted on August 3, 2009 23:29
Nice to see so many people getting excited about taxing everyone to enable a minority to buy cars on the cheap. This really isn't the role of governments, comrades.
Posted by boris | August 3, 2009 11:57 PM
Posted on August 3, 2009 23:57
Step 1: A bunch of stupid Americans buy trendy gas guzzling SUVs.
Step 2: Gas prices go up.
Step 3: Domestic car manufacturers lose sales because the stupid people don't want gas guzzlers any more because gas costs too much and being "green" is the new trendy crap to follow around blindly. The domestic manufacturers are too dumb to see this coming.
Step 4: Economy tanks and takes the domestic car manufacturers down with it. Government intervenes and makes everyone pay taxes for this "cash for clunkers" so that the original stupid people can buy smaller cars to help out the dumb domestic manufacturers.
Step 5: The same crap will happen all over again when the dumb domestic manufacturers poor all their money into hybrids while they're trendy. By the time they actually have a money making production hybrids won't be trendy anymore.
I love this country.
Posted by Dumbmestic | August 4, 2009 2:10 AM
Posted on August 4, 2009 02:10
What's good about these cars?
Posted by miki | August 4, 2009 6:35 AM
Posted on August 4, 2009 06:35
This is just numbers.. next month everything will be back to normal and the dealers will have slow sales again.. then in about a year the same people that bought this cars can't pay them and you have banks loosing money again.. no jobs = no money..
Posted by John | August 4, 2009 11:00 AM
Posted on August 4, 2009 11:00
Crap.
Eight years ago, I bought a house. Did everything right - didn't buy more that I could afford, paid 20% down, financed only the principle (not taxes or insurance), and paying down the principle. And now I'm bailing other home owner wannabe's out.
And now, under the Cash for Clunkers program, I am making down payments on new cars for others, while I drive a '91 Camry that still gets better than 32 mpg on the highway.
Posted by Jay Stevens | August 5, 2009 3:50 AM
Posted on August 5, 2009 03:50
Ah, even more of my tax money is going to pay for people's cars that I don't even know! Waa, waa waa... I just wish I had a few broken down vehicles in my barn that I could get running long enough to get to the dealer for a trade-in.
Wonder how many are doing that? I wonder how many get the $4500 discount, then turn around and sell the car for sticker minus $2500 and pocket the rest? Oops, sorry, too many ideas today.
Posted by wvo | August 5, 2009 10:28 AM
Posted on August 5, 2009 10:28
@ wvo
That works in some areas, but states with sales tax make it a little harder to flip these for profit (unless it's a really inexpensive model), but I suppose it would actually be a good thing if they did that. All those people who don't own "gas guzzlers" couldn't benefit from their own tax dollars, if someone is willing to cut them in and take a commoission that's great!
Posted by thetruth | August 5, 2009 1:56 PM
Posted on August 5, 2009 13:56