cash for cars
The Car Allowance Rebate System (CARS) has been a runaway success. Popularly known as “cash for clunkers,” CARS has truly moved the metal, encouraging consumers to replace their older, gas guzzlers with new, more fuel-efficient models. Consumer Reports previously suggested vehicles that would be prime for cashing in and those models that would make smart purchases prior to the CARS program taking effect. Now, we have data that shows what participating consumers have been doing.
As of yesterday, NHTSA had tracked 157,000 dealer transactions, requesting $664 million in CARS credits. Nearly half of new vehicles purchased through the CARS program were from Chrysler, Ford, or General Motors, with the Detroit 3 accounting for 47 percent share in the overall market. NHTSA reports that their initial analysis shows that well over half of the new vehicles not purchased from the Detroit 3 were manufactured in the United States.
As expected, the vehicles most often cashed in are popular SUVs and pickup trucks, with small and midsized sedans dominating the new-car purchases. Also notable, there are a fair number of four-wheel-drive vehicles being traded in for front-drive replacements. Below are the cash for clunkers Top 10 lists, based on data from August 4th. (Read: "CARS program beats all expectations.")
Top 10 cash for clunkers purchases
1. Ford Focus
2. Toyota Corolla
3. Honda Civic
4. Toyota Prius
5. Toyota Camry
6. Ford Escape FWD
7. Hyundai Elantra
8. Dodge Caliber
9. Honda Fit
10. Chevrolet Cobalt
Top 10 cash for clunkers trade ins
1. Ford Explorer 4WD
2. Ford F-150 Pickup 2WD
3. Jeep Grand Cherokee 4WD
4. Jeep Cherokee 4WD
5. Dodge Caravan/Grand Caravan 2WD
6. Chevrolet Blazer 4WD
7. Ford Explorer 2WD
8. Ford F-150 Pickup 4WD
9. Chevrolet C1500 Pickup 2WD
10. Ford Windstar
The Car Allowance Rebate System (CARS) has been a runaway success. Popularly known as “cash for clunkers,” CARS has truly moved the metal, encouraging consumers to replace their older, gas guzzlers with new, more fuel-efficient models. Consumer Reports previously suggested vehicles that would be prime for cashing in and those models that would make smart purchases prior to the CARS program taking effect. Now, we have data that shows what participating consumers have been doing.
As of yesterday, NHTSA had tracked 157,000 dealer transactions, requesting $664 million in CARS credits. Nearly half of new vehicles purchased through the CARS program were from Chrysler, Ford, or General Motors, with the Detroit 3 accounting for 47 percent share in the overall market. NHTSA reports that their initial analysis shows that well over half of the new vehicles not purchased from the Detroit 3 were manufactured in the United States.
As expected, the vehicles most often cashed in are popular SUVs and pickup trucks, with small and midsized sedans dominating the new-car purchases. Also notable, there are a fair number of four-wheel-drive vehicles being traded in for front-drive replacements. Below are the cash for clunkers Top 10 lists, based on data from August 4th. (Read: "CARS program beats all expectations.")
Top 10 cash for clunkers purchases
1. Ford Focus
2. Toyota Corolla
3. Honda Civic
4. Toyota Prius
5. Toyota Camry
6. Ford Escape FWD
7. Hyundai Elantra
8. Dodge Caliber
9. Honda Fit
10. Chevrolet Cobalt
Top 10 cash for clunkers trade ins
1. Ford Explorer 4WD
2. Ford F-150 Pickup 2WD
3. Jeep Grand Cherokee 4WD
4. Jeep Cherokee 4WD
5. Dodge Caravan/Grand Caravan 2WD
6. Chevrolet Blazer 4WD
7. Ford Explorer 2WD
8. Ford F-150 Pickup 4WD
9. Chevrolet C1500 Pickup 2WD
10. Ford Windstar
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