Impact of Cash for Clunkers Program


The Cash for Clunkers Program Ended at 8PM EDT on Monday August 24.  According to government statistics, 680,114 Cash for Clunkers deals were made using $2.88 billion of the $3 billion authorized for the program..  The average clunker received a $4,235 rebate.  Reimbursements are coming very slowly to dealerships and the government is putting more processors on staff to handle the backlog.  Overall, a rare successful stimulus program.

On July 24, 2009 new car dealers in the United States began accepting trade-ins of older vehicles not worth much for new cars. Based on their fuel economy and the fuel economy of the new vehicle purchased, customers received a voucher for $3,500 or $4,500 to apply to the purchase of a new car or light truck.

Ultimately, the results of this program may be the sale of slightly over 700,000 new cars and light trucks with about 250,000 incremental to what would otherwise have been sold. But the impact goes deeper. There will have been substantial sales tax revenue from each sale going to states and cities that sorely need the income. Additional income taxes will be generated from the additional commissions and salaries dealership personnel otherwise would not have earned. The list goes on.

A brief synopsis of the impact of the Car Allowance Rebate System (CARS) is shown below the fold…

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Americans Open to Vehicles From China And India


Untitled1.jpgNew Study Shows Willingness to Accept Unknown Brands
Tustin, CA (July 28, 2009) — Newly released research shows fifteen percent of new car buyers in the United States say they would consider purchasing their next vehicle from China, and eleven percent would consider buying a car from India, without knowing specific brands or vehicles. This compares with sixteen percent who said they would consider a vehicle from Korea, which has been marketing vehicles in the U. S. since the 1980s.
“As Hyundai and Kia have been on the American scene for decades now, it’s surprising that consideration for Chinese and Indian brands, sight unseen, would be about as strong as it is for the Korean brands,” said George Peterson, president of automotive research firm AutoPacific and author of the study. “However, with so many premium and high-tech non-automotive products already being made in China and purchased by Americans, why not automobiles too? It appears that buyers in America are willing to give Chinese and Indian vehicles a chance right out of the box. Understanding these consumers will be critically important to the success of any newcomer.”

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New York Auto Show 2008 – A Pair from Kia


Kia‘s New York auto show stage held both concept and production surprises. We believe that the KOUP concept, though too cutely named, hints at the next-generation Spectra. Kia described the KOUP as “closer to production than you might think,” strongly hinting Kia may add the coupe itself. The production surprise was the facelifted 2009 Optima. This new look takes Optima a step forward.


Kia KOUP: Is there a pocket rocket in Kia’s future?


2009 Kia Optima gets a fresh look

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