Saturday, January 23, 2010

Cash for clunkers, a lol in review

Over the summer I was frothing at the mouth over the "let us destroy your car so you can buy a new one for a ten-to-twenty percent discount" program. The article referenced below has some nice reflections on the effectiveness of the endeavor.

Note the predominance of foreign manufacturer names on the "newly purchased" stats, and the exclusively domestic nature of the "traded in" stats. Ironically, the cars on the first list are just as likely to have been built in the US as those on the second. That's an overall positive statement for the US economy, but cause for further amusement at the government's misguided attempt to help GM and Chrysler.

in reference to:

"Top Vehicle Purchased: Toyota Corolla
Top Trade-In Vehicle: Ford Explorer"
- Quick Stats: Who Benefitted From Cash for Clunkers? (view on Google Sidewiki)


Cars4Charities said...

Cash for clunkers did nothing for the new car industry, the environment or the economy. It had only negative consequences like raising used car prices, and seriously discouraging the number of people willing to donate car.

TJ Murphy said...

I wholeheartedly agree; and I imagine you are a good primary source to verify the negative effects. Thank you for commenting!