Some initial statistics are in on the vehicles traded in and purchased in the “Cash for Clunkers” program. Unsurprisingly, 80% of the vehicles traded in are trucks or SUVs, and the top sellers among car-buyers come from Honda, Toyota, and Ford.
The Washington Post has the details:
More than 80 percent of the vehicles turned in were trucks and sport-utility vehicles, the government said. The top-selling new car is the Ford Focus, followed by the Toyota Corolla, Honda Civic, Toyota Prius and Toyota Camry. The new vehicles on average get 25.4 miles per gallon, compared with an average of 15.8 mpg for the trade-ins.
The clunkers program was meant to stimulate sluggish auto sales and spur people to buy more fuel-efficient cars. Congress approved it in mid-June, and the program was supposed to last until Nov. 1 or when the funds run out. However, on Friday the House hastily moved to add $2 billion to the program by using money intended for energy loan guarantees.
Interestingly, the statistics don’t mention whether any of those Civics or Camrys were hybrids, even though both models are available.
Rounding out the top ten, according to Consumer Reports, were the Ford Escape (4WD), Hyundai Elantra, Dodge Caliber, Honda Fit, and Chevy Cobalt.
The top ten trade-ins to date are:
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
A savings of 10 mpg per vehicle, multiplied by about 160,000 trades to date, is not a shabby gas savings, especially for drivers with long commutes or others who drive a lot of miles.
Many ‘Clunker’ Dumpers Buy Foreign [Washington Post]
Cash for clunkers: Most popular clunkers, new cars [Consumer Reports Cars]
Cash for Clunkers Resource Center [Consumer Reports]