A new study concludes that last summer's government-funded "Cash For Clunkers" program didn't hurt car sales rates in future months, and in fact did just what it set out to do: get old, low-mileage cars off the road and stimulate auto sales in the U.S. An analysis by Maritz Research refutes one of the main concerns over the Car Allowance Rebate Systems (CARS) program, usually called "Cash for Clunkers." Critics said it would simply borrow sales from future months, with no net gain in overall sales. But Maritz concludes that in fact that did not prove to be the case. With annualized sales...
August U.S. Light-Vehicle Sales Hit Highest MPG Since $4 Gasoline
Thanks to the strong financial incentives offered by the Cash-For-Clunkers program, the average gas mileage of new vehicles sold in the U.S. during August reached a record high: 23 miles per gallon, up 8 percent from the 21.2 mpg in August 2008. The calculations were done by the trade journal...John Voelcker
2010 Toyota Prius Price-Gouging Pops Up
We've just read some nice investigative reporting by DailyTech's Jason Mick on a well-known but infuriating phenomenon: auto dealer price gouging, in this case on the sought-after 2010 Toyota Prius. We're far from the only outlet to note that the Cash-For-Clunkers plan boosted sales of the 2010...John Voelcker
Want a Cash-For-Clunkers Rebate? Do It RIGHT NOW. Today!
OK, kids, this is it. If you have a clunker and you want to trade it in and get a $3,500 or $4,500 rebate for a new vehicle under the Car Allowance Rebate Systems (CARS) program ... STOP WHAT YOU'RE DOING. Do it right now, today, and get to your dealer no later than 4 pm. Today. But call first, to...John Voelcker
Killing Your Clunker Correctly: How a Dealer 'Disables' It
The 135 pages of Cash-for-Clunkers regulations rules require the dealer who sells you your new, more fuel-efficient car to 'disable' the engine of your traded-in clunker. But how do those dealers actually destroy the engine? Three words: sodium silicate solution. It's a combination of water...John Voelcker
BMW Adds More Cash To Convince You To Buy Their Diesels
Despite IRS tax credits and superior gas mileage figures, BMW is reportedly having a tough time selling its new diesels, the 2009 BMW 335d sports sedan and the 2009 BMW X5 xDrive35d (yes, that's really its name). We've thought from the beginning that Volkswagen would be the big winner in selling...John Voelcker