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Keyword: clunkers

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  • Barack Obama and the Myth of the Unforced Error

    11/01/2013 2:20:40 PM PDT · by jfd1776 · 3 replies
    Illinois Review ^ | November 1, 2013 A.D. | John F. Di Leo
    Many believe that the current administration – or perhaps more broadly, the current Democratic regime, by the triumvirate Obama, Pelosi, and Reid since the 2006 elections – will be remembered and condemned for its “unforced errors”… that is, for the unnecessary mistakes it has made, through mishandling programs and clumsily creating needless trouble by misreading economic cause-and-effect or societal trends. But were they truly errors at all? Were they mistakes? Much of the damage done by this administration has in fact been intentional – either out of some arrogant belief that “we elites know better than you do” or out...
  • Whoops — [Obama's] 'Cash for Clunkers' Actually Hurt the Environment

    01/05/2013 10:32:34 AM PST · by grundle · 11 replies
    yahoo.com ^ | January 3, 2013
    recent reports indicate the entire program may have actually hurt the environment far more than it helped. According to E Magazine, the “Clunkers” program, which is officially known as the Car Allowance Rebates System (CARS), produced tons of unnecessary waste while doing little to curb greenhouse gas emissions. The program's first mistake seems to have been its focus on car shredding, instead of car recycling. With 690,000 vehicles traded in, that's a pretty big mistake. According to the Automotive Recyclers Association (ARA), automobiles are almost completely recyclable, down to their engine oil and brake fluid. But many of the “Cash...
  • Used Vehicle Prices Plunge Signaling End Of Auto Party

    08/08/2012 7:00:38 PM PDT · by nascarnation · 43 replies
    Zero Hedge ^ | 8/8/12 | Tyler Durden
    However, there is one index that tends to see through all the unreality much more clearly than our analysis above, that is the Used Vehicle Price index. Each time this index has dropped and broken below its two-year average, the auto industry has tended to fade rapidly.
  • As U.S. car sales pick up, trade-ins are older

    04/02/2012 1:17:12 AM PDT · by blueplum · 41 replies
    Sac Bee ^ | 01 Apr 12 | Mark Glover
    The economy remains wobbly, unemployment is still high and yet people are buying new cars at a pace that would suggest a sweeping wave of prosperity. Even auto industry analysts concede that it's counterintuitive … until you take a closer look at what's being traded in for new wheels. [snip] David Rodgers, senior vice president and general manager of the Sullivan Automotive Group, which oversees John L. Sullivan Chevrolet and Roseville Toyota in the Roseville Automall, said that, more than car age, he's been struck by the high mileage he's seeing on trade-ins. "The average (age) is running about three...
  • Americans keep their clunkers longer (10.8 Years)

    01/17/2012 1:39:47 PM PST · by Responsibility2nd · 126 replies
    CNN ^ | 01/17/2012 | Peter Valdes-Dapena
    NEW YORK (CNNMoney) -- The average vehicle on America's roads is almost 11 years old, according to the auto market analysts at Polk. The 10.8-year average is the highest figure recorded since Polk began tracking vehicle age in 1995. Back then, the average was just 8.4 years. Vehicle age has increased rapidly over the last five years as new vehicle sales have slowed. Polk's analysis is based on vehicle registration data. Older cars represent an opportunity for some businesses. "Dealer service departments and independent repair facilities, as well as aftermarket parts suppliers, will see increased business opportunity with customers in...
  • U.S. Government Ends Chrysler Investment With $1.3 Billion Loss

    07/21/2011 3:48:32 PM PDT · by Doogle · 31 replies · 1+ views
    FoxNews. ^ | 07/21/11 | FoxNews.
    The U.S government has sold its shares in Chrysler LLC at a likely loss of $1.3 billion in taxpayer money, the Treasury Department said Thursday, announcing the end of a controversial investment that resurrected the troubled auto company. Italian automaker Fiat SpA, which has run the company since it emerged from bankruptcy protection in June 2009, purchased the U.S. government's remaining 98,000 shares in the auto company for $560 million.
  • Is There A Shortage Of Used Cars?

    05/19/2011 9:34:41 AM PDT · by Iron Munro · 97 replies
    WHEC-TV Rochester, NY ^ | May 18, 2011 | Ray Levato
    If you've tried to buy a used car recently -- a lot of people are finding it hard to get what they want. There is something of a used car shortage going on. News 10NBC found out there are a number of factors why there are fewer used cars out there. One is -- more people are holding onto their new cars longer but also, there are fewer rental cars coming on the market and fewer people are leasing vehicles so therefore -- fewer of those cars are out there. Joan Kamisch is trading her 2000 Chevy Lumina for a...
  • GOVT MOTORS cars already falling apart! (Drudge headline) (The new Vega)

    04/11/2011 7:01:14 PM PDT · by Frantzie · 54 replies
    Wall Street Journal ^ | 4-11-2011 | Jonathan Welsh
    Imagine turning your car’s steering wheel, or giving it a gentle tug, and having it break away from the steering column. Now you’re speeding along holding the suddenly useless wheel.
  • Time to Exorcise the Oil Monster

    03/16/2011 3:01:06 PM PDT · by Kaslin · 10 replies · 1+ views
    Pajamas Media ^ | March 16, 2011 | Mercer Tyson
    We can't afford to listen to the same old lame excuses. How many times do we have to go through an oil crisis with skyrocketing gas prices and damage to the economy before we will get the monster out from under the bed?There is no monster, of course. But as long as we think there is one, it’s no different than actually having one. So, it is time — has been for a long, long while — to change our thinking: exorcise the oil monster.The problem with this particular monster is that it’s alive and well in the minds of...
  • Clunker math

    01/19/2011 4:27:47 PM PST · by MNDude · 15 replies
    The person who calculated this bit of information went to high school in Pittsburgh, Pa. He is now & has been a professor at The University of West Virginia in Morgantown, West Virginia for the last forty some years. I never looked at the clunker program in such depth. But he did. Clunker Math Think of it this way: A clunker that travels 12,000 miles a year at 15 mpg uses 800 gallons of gas a year. A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year. So, the average Cash for Clunkers transaction...
  • Feds Investigate 'Cash for Clunkers' Car Dealers

    08/29/2010 8:34:35 AM PDT · by Oldeconomybuyer · 21 replies
    ABC News ^ | August 28, 2010 | By Gregory Korte
    The government is investigating at least 20 car dealerships it claims violated the rules of last year's cash-for-clunkers program. Government auditors say up to $94 million in rebates may be ineligible because they lack the proper documentation. NHTSA spokeswoman Karen Aldana said there's no evidence of widespread fraud and noted that the violations are a small fraction of the 18,915 dealers who participated. "We project that almost 22,000 transactions lacked supporting documentation, such as proof of insurance, in the CARS database at the time of our audit," Assistant Inspector General Joseph W. Comé wrote in an April report. But "some...
  • Lease Problems on Cash for Clunkers Cars After One Year

    08/05/2010 8:38:39 PM PDT · by Lockbox · 36 replies
    Automoblog ^ | Aug 04, 2010 | Chris Nagy
    It’s been one year since the United States government threw some jumper cables onto slumping auto sales with the trade-in program known as Cash for Clunkers. However, as time passed, some car agreements made by consumers under the government incentive program has bred some buyers remorse of late. According to LeaseTrader.com, droves of Cash for Clunkers-inspired vehicle lessees (who is said to account for 1 in 5 total vehicle sales during the incentive’s period) are actively seeking rescue from their contracts. In lease agreements required to be a minimum of five years, a degree of these commitments have fallen under...
  • Drivers regret Cash for Clunkers leases

    08/03/2010 11:10:44 PM PDT · by South40 · 55 replies · 172+ views
    Orange County Register ^ | 8/3/2010 | Mary Ann Milbourn
    Thousands of people who leased cars last year as part of the Cash for Clunkers program are having second thoughts and are trying to get out of their leases, reports LeaseTrader.com. The program provided up to a $4,500 rebate if a person signed at least a five-year lease for their car. A year later, that money has long been spent and people realize they are stuck with the car for four more years, says John Sternal, LeaseTrader.com spokesman. "I think it's Cash for Clunkers remorse," Sternal says, whose company helps hook up people who want to trade out of their...
  • (FL)State plans new clunker appliance program for central AC units

    06/30/2010 11:35:03 AM PDT · by greatdefender · 1 replies
    Orlando Sentinel ^ | June 30, 2010 | Diane C. Lade
    Florida's wildly popular Cash for Clunker Appliances program soon will be reborn with a new twist: Rebates for clunker air conditioning systems. State officials have approved a program that will give Floridians a flat fee rebate – yet to be determined -- for new Energy Star-rated central air conditioning and air source heat pumps systems purchased before the end of the year, said Brenda Buchan, the chief analyst with the Governor's Energy Office who managed the Energy Star appliance rebate program. Window or room air conditioning units will not be included. Buchan said Florida also is considering covering Energy Star...
  • Hey, who’s up for another homebuyer tax credit?

    06/25/2010 8:06:00 AM PDT · by C19fan · 4 replies
    Hot Air ^ | June 25, 2010 | Ed Morrissey
    The popular definition of insanity is doing the same thing over and over again and getting a different result. After the Cash for Clunkers program failed to do anything more than steal sales from the future and two successive homebuyer tax credits had the same effect while burning up billions of taxpayer dollars, what would the truly insane suggest as a response? Oh, let’s not always see the same hands (via King Banaian): Cristian de Ritis, a director at Moody’s Economy.com, told SNL that the consensus estimate was for a pace of 420,000, with Moody’s Economy.com projecting a rate of...
  • It's been awhile since I saw this but wanted to share the link

    01/26/2010 1:31:24 PM PST · by Secret Agent Man · 1 replies · 315+ views
    SNL/Liveleak | 1/26/10 | n/a
    Just wanted to put the SNL Obama/Jintao press conference link up one more time, especially if you need a laugh today. http://harrisonprice.com/2009/11/23/snl-parodies-obamas-visit-to-china/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+harrisonprice%2FfLuv+%28Just+Politics..%3F%29
  • 70% Of The Q3 GDP Growth Was Cash For Clunkers

    12/22/2009 8:01:45 AM PST · by blam · 19 replies · 812+ views
    The Business Insider ^ | 12-22-2009 | Vincent Fernando
    70% Of The Q3 GDP Growth Was Cash For Clunkers Vincent FernandoDec. 22, 2009, 10:05 AM Today's downward revision is far worse than it first appears. While third quarter GDP was revised down by a 0.6% (2.2% vs. 2.8% previously), the contribution from motor vehicle output (which was massively stimulated by Cash for Clunkers in a one-off fashion) remains enormous. BEA GDP Release: Motor vehicle output added 1.45 percentage points to the third-quarter change in real GDP after adding 0.19 percentage point to the second-quarter change. What this means is that Cash for Clunkers was an even larger factor than...
  • Clunker program clogs salvage yards

    12/06/2009 8:22:30 PM PST · by Darnright · 21 replies · 1,513+ views
    The Roanoke Times ^ | December 06, 2009 | Jeff Sturgeon
    A deadline looms for businesses to glean usable parts from hundreds of automobiles. Last summer's Cash for Clunkers program has clogged auto salvage yards with a glut of trade-ins that are too damaged to drive but too good to be sent directly to scrap. The less glamorous side of the auto industry is having trouble digesting the byproducts of the buying frenzy that put nearly 700,000 new automobiles on the nation's roads -- and took the same number off. The future of millions of usable auto parts is in limbo as a critical deadline looms this winter under the federal...
  • SNL Bashes Obama, Stimulus, Healthcare and Cash for Clunkers

    11/22/2009 8:01:10 AM PST · by Sub-Driver · 65 replies · 3,339+ views
    SNL Bashes Obama, Stimulus, Healthcare and Cash for Clunkers By Noel Sheppard Created 2009-11-22 10:38 NBC's "Saturday Night Live" really went after President Obama in its opening sketch Saturday evening. Not only that, his policies involving economic stimulus, healthcare reform, and Cash for Clunkers were also exposed as having absolutely no positive or future impact on unemployment. The setup was Obama, played by Fred Armisen, doing a press conference with Chinese President Hu Jintao, played by Bill Hader. As Jintao, through interpreter played by Nasim Pedrad, realized how much money the United States owes China, he questioned how we were...
  • 'Clunker' data show pickup-for-pickup trades

    11/05/2009 8:18:17 AM PST · by editor-surveyor · 45 replies · 1,273+ views
    Yahoo News ^ | November 5, 2009 | TED BRIDIS
    WASHINGTON – Billed as a way for the government to put more fuel-efficient vehicles on highways, the popular $3 billion Cash for Clunkers program mostly involved swaps of old Ford or Chevrolet pickups for new ones that got only marginally better gas mileage, according to an analysis of new federal data by The Associated Press. The single most common swap — which occurred more than 8,200 times — involved Ford F150 pickup owners who took advantage of a government rebate to trade their old trucks for new Ford F150s
  • Edmunds.com Responds to White House Comments on Cash for Clunkers Analysis

    11/01/2009 9:35:29 AM PST · by Nachum · 10 replies · 905+ views
    Edmunds.com ^ | 11/1/09 | Jeannine Fallon/Chintan Talati
    SANTA MONICA, Calif. — October 29, 2009 — Today the Department of Transportation and White House chose to respond to an analysis Edmunds.com released Wednesday that looked at auto sales this year and what sales volumes would have been had the popular Cash for Clunkers program never existed. At issue is one point of the analysis showing the taxpayer cost for every incremental vehicle sold was $24,000. To be clear, Edmunds.com is not disputing the government's statements regarding total voucher applications, vehicles sold or voucher values. The key question is how many of these sales would have occurred anyway. Apparently,...
  • Edmunds.com Fights Back After White House Attack

    10/30/2009 6:47:35 AM PDT · by FromLori · 46 replies · 2,516+ views
    Last night we were shocked to see that The White House was using its blog to tear into car website Edmunds.com over some analysis it did of Cash-For-Clunkers. To recap: Edmunds.com says the program was a gigantic waste with little effect. The White House disagrees. Anyway, Edmunds is sticking by its analysis, and it put out the following press release: SANTA MONICA, Calif. — October 29, 2009 — Today the Department of Transportation and White House chose to respond to an analysis Edmunds.com released Wednesday that looked at auto sales this year and what sales volumes would have been had...
  • The White House Stupidly Goes To War With Car Web Site Edmunds.com

    10/30/2009 8:56:49 AM PDT · by big black dog · 11 replies · 1,234+ views
    Business Insider ^ | Joe Weisenthal
    It is an odd, and we'd say regrettable, pattern of this White House that it lets itself get dragged down into fights with specific media outlets. George W. Bush experienced acrimony with the New York Times, but for the most part, other than general frustrations of a conservative administration, complaining about a liberal media, it was no big deal. But in addition to Fox News, now The White House is going after highly-respected and influential car site Edmunds .com. They're actually using The White House blog to dispute the site's analysis of Cash-For-Clunkers (via Detroit News). The post is snarkily...
  • WH adds new enemy to list : Edmunds

    10/30/2009 11:35:08 AM PDT · by RobinMasters · 5 replies · 487+ views
    Hot Air ^ | October 29, 2009 | ED MORRISSEY
    The Obama White House has apparently decided to wage a two-front war on the media. After a blistering analysis of the Cash for Clunkers program from the well-established auto industry analyst Edmunds, the White House tried attacking their credibility while claiming that automakers were planning for greatly-increased demand for their new products. Business Insider wondered what the administration could be thinking: On the same day that we found out that motor vehicle output added 1.7% to economic growth in the third quarter – the largest contribution to quarterly growth in over a decade – Edmunds.com has released a faulty analysis...
  • White House fights back on Cash for Clunkers(blows a gasket)

    10/29/2009 11:44:38 PM PDT · by TigerLikesRooster · 47 replies · 2,034+ views
    CNN ^ | 10/29/09 | David Goldman
    White House fights back on Cash for Clunkers Obama administration goes to battle with Edmunds.com on Cash for Clunkers analysis, saying the program contributed heavily to last quarter's economic expansion. By David Goldman, CNNMoney.com staff writer Last Updated: October 29, 2009: 5:51 PM ET NEW YORK (CNNMoney.com) -- The Obama administration on Thursday lashed out at a prominent critic of its Cash for Clunkers program, arguing that the popular trade-in initiative helped give the auto industry and the economy a much needed boost in the past few months. In a blog post on whitehouse.gov, the administration argued that a report...
  • Nothing’s Over: The Top Reason GDP Does Not Show Recovery

    10/29/2009 8:38:42 PM PDT · by blam · 8 replies · 689+ views
    The Daily Reckoning ^ | 10-29-2009 | Rocky Vega
    Nothing’s Over: The Top Reason GDP Does Not Show Recovery By Rocky Vega 10/29/09 Stockholm, Sweden – In order to juice the US into recovery the economy has been stimulated all over the place. The mainstream media is wild with cheerleading that the 3.5 percent third quarter GDP growth is a sign that the day is saved. Is it? No. The single clearest reason the GDP figure is hugely misleading is the Cash for Clunkers program. That particular government hand out caused motor vehicle output to spike almost 160 percent when compared to last quarter. That’s easily the highest quarter...
  • The White House Stupidly Goes To War With Car Website Edmunds.com

    10/29/2009 5:25:11 PM PDT · by FromLori · 28 replies · 1,865+ views
    It is an odd, and we'd say regrettable, pattern of this White House that it lets itself get dragged down into fights with specific media outlets. George W. Bush experienced acrimony with the New York Times, but for the most part, other than general frustrations of a conservative administration, complaining about a liberal media, it was no big deal. But in addition to Fox News, now The White House is going after highly-respected and influential car site Edmunds.com. They're actually using The White House blog to dispute the site's analysis of Cash-For-Clunkers (via Detroit News). The post is snarkily titled:...
  • Edmunds: Cash for Clunkers cost taxpayers $24k per car, not $4k

    10/29/2009 10:15:55 AM PDT · by Ben Mugged · 23 replies · 1,069+ views
    Auto Blog ^ | Oct 29th 2009 | Chris Shunk
    There is little doubt that Cash for Clunkers gave auto sales a big boost in late July and most of August, but there has been considerable debate as to how much help taxpayers' $3 billion provided. Customers who purchased a new car or truck were rewarded in many ways, especially when you consider the U.S. government paid out a median price of about $4,000 per clunker. Those customers are also saving at the pump, as each car turned in was 4-10 mpg better than the vehicle it replaced. Dealers sold more cars. States received more tax dollars. So the program...
  • Report: Cash for Clunkers was a lemon

    10/28/2009 5:49:53 PM PDT · by Son House · 30 replies · 1,486+ views
    Christian Science Monitor ^ | October 28, 2009 | By Mark Trumbull
    American taxpayers paid a lot of cash for those clunkers: $24,000 for each new car sold, according to a study released Wednesday. The government could have done almost as well by just giving away cars for free, instead of creating an elaborate incentive program, according to an analysis by the automotive information firm Edmunds.com in Santa Monica, Calif. ... to look at how many people purchased cars that otherwise wouldn’t have been bought. The firm says that number is about 125,000 cars. By that measure, the government spent $24,000 to generate each sale of a new car. In all, the...
  • Clunker Nation

    10/20/2009 5:38:34 AM PDT · by rellimpank · 4 replies · 706+ views
    American Spectator ^ | 20 oct 09 | Ralph R. Reiland
    I don't want to sound negative, but is anyone else getting the idea that we're starting to live in Clunker Nation? Start with the actual clunker deal where we borrowed money from China to buy Japanese cars in order to save Detroit. Nuts! All told, we spent $2.88 billion in money we didn't have in order to smash 690,114 cars, according to the final numbers from the Department of Transportation. What pulled up to be demolished were mainly Americ
  • So you think you got a deal when you traded n your "clunker"?

    10/06/2009 2:17:28 PM PDT · by Blood of Tyrants · 26 replies · 2,619+ views
    Email | unknown | Unknown
    SO...you took FEDZILLA up on its offer of $4500. dollars to trade in your old "Clunker" (interesting choice of words)? Well, let's see who got the best of that "deal"... If you traded in a clunker worth $3500, you got $4500 off for an apparent "savings" of $1000. You could have gotten $3,500 if you had just traded the car in. So you really are $1,000 ahead (depending on your clunker's value) at this point. Not too bad.... However, you WILL have to pay taxes on the $4500 come April 15th (something that no auto dealer will tell you). If...
  • Clunkers in Practice

    10/05/2009 6:26:21 AM PDT · by GOP_Lady · 17 replies · 1,292+ views
    The Wall Street Journal ^ | 10-04-09 | The Wall Street Journal Editorial Staff
    One of Washington's all-time dumb ideas. Remember "cash for clunkers," the program that subsidized Americans to the tune of nearly $3 billion to buy a new car and destroy an old one? Transportation Secretary Ray LaHood declared in August that, "This is the one stimulus program that seems to be working better than just about any other program." If that's true, heaven help the other programs. Last week U.S. automakers reported that new car sales for September, the first month since the clunker program expired, sank by 25% from a year earlier. Sales at GM and Chrysler fell by 45%...
  • Cash for Clunkers Comes Crashing Down

    10/02/2009 7:33:36 PM PDT · by 2ndDivisionVet · 36 replies · 1,951+ views
    The Heritage Foundation ^ | October 2, 2009 | Nick Loris
    What goes up must fall just as hard. Case in point: cash for clunkers: "The dramatic decline in sales reported Thursday by the Big Three automakers suggested the extent to which the stimulus act has propped up the economy. The government’s wildly popular “Cash for Clunkers” program drove consumer spending to its highest level in eight years in August. But after it ended, so did the growth in auto sales. General Motors’ sales plunged 36 percent in September compared with August. Ford plummeted 37 percent. Chrysler dove 33 percent. Cash for clunkers “was a one-time boost of sales followed by...
  • Spending soars to highest in eight years on 'clunkers'

    10/01/2009 6:27:20 AM PDT · by TigerLikesRooster · 17 replies · 624+ views
    Market Watch ^ | 10/01/09 | Rex Nutting
    Spending soars to highest in eight years on 'clunkers' Real disposable incomes off 0.2%, marking third monthly decline in a row By Rex Nutting, MarketWatch WASHINGTON (MarketWatch) -- Spurred by government subsidies to buy cars, U.S. consumer spending soared 1.3% in August, the fastest increase since the post-Sept. 11 shopping binge of eight years ago, the Commerce Department estimated Thursday. Spending on durable goods rose 5.3% in August as auto sales surged on the government's "cash-for-clunkers" program. The clunkers program accounted for most of the increase, the government said. The program, intended to get motorists to trade in older vehicles...
  • Full list of every Cash for Clunkers trade in

    09/29/2009 3:12:26 PM PDT · by nascarnation · 12 replies · 1,025+ views
    Jalopnik ^ | 9/29/2009 | Matt Hardigree
    the list of all 690,114 trade-ins.
  • OMG A $300,000 Bentley In Cash For Clunkers!

    09/24/2009 5:47:37 PM PDT · by FromLori · 36 replies · 1,743+ views
    Not a JOKE! Someone thought it was a Good idea to trade in these two rare vehicles in the Cash 4 Clunkers program... Jalopnik has a list of the ten most exotic cars that were scrapped in Cash-For-Clunkers. A Bentley Continental R worth $307,000 and an Excalibur Autos Phaeton. Only 1,290 of these Bentleys were built. Now one has been destroyed. Click on the pictures below to see the rest.
  • Clunkers fallout: sales slump

    09/24/2009 7:14:12 AM PDT · by Graybeard58 · 54 replies · 2,058+ views
    Waterbury Republican-American ^ | September 24, 2009 | Editorial
    The automotive-information Web site Edmunds.com said it expects seasonally adjusted sales in September will be the worst of 2009, down 3 percent vs. February — "the darkest month of the recession" — and down 30 percent vs. last September "when the bottom was falling out of the economy." Dropping with the sales are the profits of dealers, who this month have had to goose incentives even as they carry hundreds of millions in debt as they wait for the government to make good on its Clunker vouchers. "The best month of the year for car sales is being quickly followed...
  • Ten most exotic cars destroyed by Cash for Clunkers

    09/23/2009 5:57:16 PM PDT · by nascarnation · 27 replies · 2,076+ views
    Jalopnik.com ^ | 09/23/2009 | Jalopnik
    Though the most popular vehicle destroyed under Cash For Clunkers was the Ford Explorer, there were also AMGs, Rolls-Royces and even a LaForza crushed. The ten most exotic cars that fools parted with below. Click through if you dare.
  • 'Cash for Clunkers’ a $3 billion boondoggle, consumer experts say

    09/22/2009 8:59:39 PM PDT · by South40 · 22 replies · 1,041+ views
    Orange County Register ^ | 9/22/2009 | Teri Sforza
    Stimulus, indeed! Car dealers turned in 642,277 vouchers to the the Cash for Clunkers program, and they’ll get $2.7 billion from the government, according to the latest statistics. But the program, some consumer experts say, was poorly designed and executed, saddling dealers with risk; consumers with precious little protection; and taxpayers with the bills. For the $4,000-plus per car that taxpayers shelled out, “we could have gotten a lot more,” wrote Lisa Margonelli. a senior research fellow with the New America Foundation in a piece in The Atlantic. “Consider this: C4C only required a fuel economy increase of 2...
  • Couple shocked to find their ‘clunker’ is for sale

    09/21/2009 6:24:52 PM PDT · by South40 · 65 replies · 3,271+ views
    Orange County Register ^ | September 21, 2009 | Teri Sforza
    The sapphire blue 2001 Nissan X-Terra was still in pretty fine shape - but, getting only 17 miles or so a gallon, it had “Cash for Clunkers“ written all over it. So in August, Dan Hoang and girlfriend Tara Bui gathered up all the paperwork required by “Cash for Clunkers” - registration, title, proof of insurance - and went to Volkswagen of Garden Grove to ditch the gas guzzler and replace it with a more environmentally friendly VW Jetta. They wanted the clean diesel Jetta - which would have qualified for the maximum $4,500 credit - but alas, the dealer...
  • Customers finding higher prices for used cars

    09/19/2009 6:03:48 AM PDT · by rockinonritalin · 33 replies · 1,182+ views
    9WSYR.com ^ | September 19, 2009 | 9 WSYR-TV Syracuse
    Clay, New York (WSYR-TV) Fewer used cars on the lot are driving up the price for those in the market looking for another car. "Part of the problem why the price is going up because the availability of the cars is a little bit lower," says Tom Loving of Summit Chevrolet. The higher prices are making car shopping a little more difficult for Kara Hooker, who was searching for a used car Friday night at the Great Northern Mall. "I missed out on the Cash for Clunkers deal because my car is a Volkswagen and you don't get anything for...
  • Car showrooms quiet after clunkers clamor ends

    09/19/2009 8:17:56 AM PDT · by Saije · 15 replies · 1,064+ views
    Boston Globe ^ | 9/19/2009 | Megan Woolhouse
    It has been nearly a month since the car-buying frenzy of the Cash for Clunkers program ended, and many area auto dealers are longing for the good old days of July and August. Like consumers nationwide, Massachusetts residents rushed to take advantage of the federal voucher program, which offered them up to $4,500 on old gas-guzzlers to be put toward the purchase of new, more fuel-efficient vehicles. About $65 million worth of vouchers were handed out statewide during the monthlong program that ended Aug. 24. But once the federal money dried up, so did the sales rally. Now, customers at...
  • Sig Sauer starts Klunker Handgun program

    09/14/2009 2:21:56 PM PDT · by Atlas Sneezed · 105 replies · 2,799+ views
    Foster's Daily Democrat (NH) ^ | Wednesday, September 9, 2009 | Staff
    EXETER – Firearms manufacturer Sig Sauer, in their part to help stimulate the economy, has announced a "Cash for Your Klunker Handgun" program. Purchase a new SIG SAUER P220, P226, P229, 1911, SIG556 pistol, or SIG556 rifle from your dealer's inventory from Sept. 7th through Nov. 30th, and Sig Sauer will give you $200 for your old pistol or revolver. To receive your $200 payment, simply send your old firearm with a copy of your form 4473 and proof of purchase of your new Sig Sauer firearm (no later than Friday, Dec. 4) to: SIG SAUER, Inc., Attn: CK-1, 18...
  • Car dealers fight slow sales after end of Clunkers

    09/13/2009 1:54:37 PM PDT · by Chet 99 · 45 replies · 1,544+ views
    YPSILANTI TOWNSHIP, Mich. – As Gene Butman Ford opened its doors Saturday, salesmen outnumbered the shoppers looking at a depleted stock of cars and trucks, and it didn't appear that many customers were ready to buy. Like many dealers across the country, the dealership in Ypsilanti Township, Mich., west of Detroit, is suffering from a Cash for Clunkers hangover, and Sales Manager Paul Grahl isn't sure when it will end.
  • 'Clunkers' Sequel Rattles Appliance Producers

    09/12/2009 1:52:50 PM PDT · by Lorianne · 6 replies · 647+ views
    Wall Street Journal ^ | 27 August 2009 | Timothy Aeppel, Paul Glader
    The cash-for-clunkers program was so successful in getting Americans to buy new cars that it ran out of money early. Now, a sequel, dollars-for-dishwashers, is coming to an appliance store near you. But the $300 million program, funded through the federal government's economic stimulus plan, is certain to lack the same pop, said appliance makers and retailers. The program's intent is to spur sales of energy-efficient appliances, but its small size would provide just a minor boost for struggling appliance makers such as General Electric Co., Whirlpool Corp., and Sweden's Electrolux AB. Unlike the clunkers plan, the program allows each...
  • Documenting The Destruction: Obama’s Slaughter of Top Quality Used Cars About to Commence En M

    09/12/2009 10:14:03 AM PDT · by Starman417 · 21 replies · 1,070+ views
    Flopping Aces | 09-12-09 | Alec Rawls
    Obama is still slow with his Cash for Clunkers reimbursements, but as soon as the vouchers are paid off, the 700,000 mostly top-quality used cars that were turned in will be destroyed, decimating America’s once best-in-the-world used car market. Do people know that most 2009 models qualified for vouchers? Democrats define “clunkers” the way Islam defines those in need of subjugation. If it is not a “green” vehicle then it is by definition a “clunker” whose demise is not to be mourned, but is to be paid for and celebrated. (Check here whether Democrats would pay for the destruction of...
  • Was Cash for Clunkers Worth it? By the Numbers

    09/11/2009 12:36:40 PM PDT · by Notoriously Conservative · 23 replies · 1,258+ views
    Notoriouslyconservative.com ^ | 09 11 09 | Notoriously Conservative
    To determine if clash for clunkers was worth it, let's do a little math (I know, math sucks, but stick with me). A vehicle that gets 15 mpg, and travels an average of 12,000 miles per year, uses 800 gallons of gas a year. 12,000 miles / 15mpg = 800 gallons A vehicle that gets 25 mpg, and travels an average of 12,000 miles per year, uses 480 gallons of gas a year. 12,000 miles / 25mpg = 480 gallons Seems pretty good so far, that's almost half as much. Almost. With that number, the average clunker transaction will reduce...
  • Another lesson for ObamaCare in Cash for Clunkers

    09/10/2009 11:10:50 AM PDT · by batter · 6 replies · 497+ views
    Hot Air ^ | 10 September 2009 | Ed Morrissey
    The math on this isn’t exactly rocket science. The administration blew 58% of the C4C money on overhead, leaving only 42% for the dealers and the car buyers. It amounts to $1.36 of administrative cost for every dollar in subsidies granted, a terrible conversion price for even Obama’s idea of redistributionism. What if the Cash for Clunkers program had been a charity rather than a government program? The Better Business Bureau would likely have classified it as a fraud. According to their guidelines, a reputable charity should spend at least 65% of their money on their charitable programs and no...
  • Edmunds.com Reveals Mysteries with Government Clunker Data

    09/04/2009 4:58:41 PM PDT · by fiscon1 · 4 replies · 775+ views
    Auto Remarketing ^ | 09/04/2009 | Jennifer Reed
    On Thursday, Edmunds.com pointed out what it sees as inconsistencies with the government's Cash for Clunkers statistics. One of the reasons the company delved into these figures is because it says there was an unprecedented range in analysts' sales forecasts.
  • Crash For Clunkers: Demolition Derbies Hard Up for Cars

    09/04/2009 2:59:20 AM PDT · by kingattax · 2 replies · 348+ views
    Time ^ | 9-3-09 | Ada Calhoun
    There's at least one group of people who are happy Cash for Clunkers is over: demolition-derby drivers. Participants in these events, in which drivers smash into one another until there's only one engine left running, don't enjoy the sight of old cars going out of commission without making a pit stop at the county fairground. "Obama is an anti-demo-derby guy," says Tory Schutte, head of the Demolition Derby Drivers Association. "He's targeting the cars we've been using." Also contributing to the shortage of derby-worthy cars: scrap-metal prices have doubled in the past two years, leading more owners to sell their...