I was wondering what people were buying with the increased sales with the Cash for Clunkers program. What I found was that it depends on who is creating the list. Here is what I mean just looking at the top five sellers.
Total sales by model only and includes all versions such as 2WD,4WD, Hybrids (source Wall Street Journal):
1. Ford F Series Pick Up
2. Toyota Camry
3. Honda Accord
4. Toyota Corolla
5. Chevy Silverado Pick Up
Edmunds.com Cash for Clunkers List. This is what people bought with their rebate. It includes all versions of the model as the above list.
1. Ford Escape
2. Ford Focus
3. Jeep Patriot
4. Dodge Caliber
5. Ford F-150
The Government's Cash for Clunkers list (They break it up by type, ex. 2WD total listed separately from 4WD) (source CNNMoney.com)
1. Ford Focus
2. Toyota Corolla
3. Honda Civic
4. Toyota Prius
5. Toyota Camry
Looking at the top 5 in each list, it doesn't look good for GM. In the first list they only had 1. You you have to look down to number 15 before you found the next GM vehicle. In the second list they had two in the top 10 positions 7 & 8. In the last list they had one, 10th.
When I purchased my new car, I did not qualify for the Cash for Clunkers, the dealer told me the purpose of this program was to move all the 2009s that the manufactures had sitting around as a result of slow sales and closing dealerships. It was a short term fix designed to move inventory, that's all.
What will happen over the next couple months when the 2110s start coming out?
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The "Cash for Clunkers" program is just another Obama "feel good" policy. I need to get a new car myself. My car is a mid-90's V-8 sedan. I've been looking for quite some time now. The car that I want is a V-6 and quite nice. It's an American-made car. Now get this. The new car with the smaller engine has a larger carbon footprint than my old car! Yep, you read that correctly. The new car gets a combined 19 miles per gallon and 24 miles per gallon if I stay on the highway. The older car with my new engine gets a combined 20 miles/gallon and I get about 26 miles/gallon on the highway. So how am I helping things if I get a car with worse fuel economy?! This program isn't about being "green", it's about conning the buyer into bailing out "Government Motors" by putting an incentive to buy cars that nobody wanted in the first place.
ReplyDeleteCan't wait for Obama's plan on healthcare to come into effect. That is going to be one messed-up situation! Can't we just take Obama, Reid, and Pelosi and put them on their own island and let them mess that up on a small scale? It's time to admit the new leadership is a mistake!