Cash for Clunkers - Good or Bad Idea?

4110 messages, Last post on Nov 23, 2009 at 11:42 AM

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What is this discussion about? Legislation, Truck, Sedan, Wagon, SUV

For questions about how the program works or to discuss program details, please visit our discussion titled, "Cash for Clunkers - Does it Work for You?"

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#3847 of 4110 Re: I wonder [stephen987] by ateixeira Oct 13, 2009 (11:22 am)
Replying to: stephen987 (Oct 13, 2009 11:08 am) How do you translate "zero"? Replies to this message: fintail (Oct 13, 2009 11:39 am)
#3848 of 4110 Re: I wonder [ateixeira] by fintail Oct 13, 2009 (11:39 am)
Replying to: ateixeira (Oct 13, 2009 11:22 am) With the trends of late, zero = $1
#3852 of 4110 C4C cost TP $24,000 each? by gagrice Oct 29, 2009 (6:02 am)
Clunkers: Taxpayers paid $24,000 per car Auto sales analysts at Edmunds.com say the pricey program resulted in relatively few additional car sales. By Peter Valdes-Dapena, CNNMoney.com senior writer Last Updated: October 29, 2009: 9:33 AM ET NEW YORK (CNNMoney.com) -- A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com. Still, auto sales contributed heavily to the economy's expansion in the third quarter, adding 1.7 percentage points to the nation's gross domestic product growth. Is the economy really getting better? The Cash for Clunkers program gave car buyers rebates of up to $4,500 if they traded in less fuel-efficient vehicles for new vehicles that met certain fuel economy requirements. A total of $3 billion was allotted for those rebates. The average rebate was $4,000. But the overwhelming majority of sales would have taken place anyway at some time in the last half of 2009, according to Edmunds.com. That means the government ended up spending about $24,000 each for those 125,000 additional vehicle sales. I think Edmund's has it just about right.
#3853 of 4110 re: by gotenks243 Oct 29, 2009 (10:11 am)
That press release is misleading. The same numbers could be used to claim that it cost $60,000 for each additional domestic branded car sold, or maybe $1,000,000 for each additional hybrid sold. But those figures are just as useless as this mythical "$24,000." It ignores the economic benefits and increased transaction prices of the sales of the other 565,000 vehicles. Basically they're taking a sound point (C4C netted a 125,000 vehicle sales increase), and then creating a politically motivated "result" from it in order to paint the program's overwhelming success as a failure. As someone who has come to Edmunds' for nearly ten years, I'm extremely disappointed by the political grandstanding. Replies to this message: imidazol97 (Oct 29, 2009 10:53 am) steve_ (Oct 29, 2009 11:50 am) ateixeira (Oct 29, 2009 12:04 pm) and 7 more... hesaid (Oct 29, 2009 11:56 am) gotenks243 (Oct 29, 2009 12:36 pm) srs_49 (Oct 30, 2009 2:36 am) ateixeira (Oct 30, 2009 5:57 am)
#3854 of 4110 re: [gotenks243] by imidazol97 Oct 29, 2009 (10:53 am)
Replying to: gotenks243 (Oct 29, 2009 10:11 am) >I'm extremely disappointed by the political grandstanding. Cash for Clunkers was a political grandstand by politicians to look like they were effectively doing something. What kind of result would one expect from that kind of program: data is data. Replies to this message: steve_ (Oct 29, 2009 11:50 am) ateixeira (Oct 29, 2009 12:04 pm) steve_ (Oct 29, 2009 12:11 pm) and 3 more... hesaid (Oct 29, 2009 12:17 pm) and 1 more... nippononly (Oct 29, 2009 12:25 pm)
#3855 of 4110 mind your P's and Q's by steve_ HOST Oct 29, 2009 (11:50 am)
Replying to: imidazol97 (Oct 29, 2009 10:53 am) You never know who may be reading your stuff.... White House Charges Edmunds.com Got It Wrong on Cash for Clunkers Edmunds.com Responds to White House Criticism Those links are from our own AutoObserver. Here's a take from the Christian Science Monitor: Report: Cash for Clunkers was a lemon Replies to this message: ateixeira (Oct 29, 2009 12:04 pm) steve_ (Oct 29, 2009 12:11 pm) gagrice (Oct 29, 2009 4:19 pm) and 2 more... hesaid (Oct 29, 2009 12:17 pm) ateixeira (Oct 29, 2009 12:33 pm) nippononly (Oct 29, 2009 12:25 pm)
#3856 of 4110 re: [gotenks243] by hesaid Oct 29, 2009 (11:56 am)
Replying to: gotenks243 (Oct 29, 2009 10:11 am) gotenks243 said "The same numbers could be used to claim that it cost $60,000 for each additional domestic branded car sold, or maybe $1,000,000 for each additional hybrid sold." No, the same numbers could not be used to make those claims. Do you think this Administration and Congress really care that it cost $24,000 per vehicle? No. Between the CFC program and the $8000 tax credit for first time home buyers they got the bump in the economy they were hoping for. And that's all they care about. It doesn't matter what the cost is to the taxpayer because the government has completely lost their sense. Imagine a 5 gallon bucket full of rice. Now take one grain of rice out of that bucket and that's how much CFC cost in comparison to the insane amount of money they are spending. This isn't political grandstanding on the part of Edmunds. You are upset because the government has been called out on yet another wasteful program and your party is responsible for it. You gotta stop supporting the spending habits of these people. It's absolutely nuts. Replies to this message: gotenks243 (Oct 29, 2009 12:36 pm)