According to this report from Edmunds, sales of new vehicles in September 2009 fell off a cliff, dropping 41% from August 2009 and down 23% from September 2008. This shows that the primary sales effect of the “Cash for Clunkers” program was to harvest sales that would otherwise have occurred later in the year and compress them into an earlier time period.
More details at Taxman Blog (another great Ohio blogger)
Wednesday, September 30, 2009
Cash for Clunkers end result
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3 comments:
In reality, the only thing accomplished by Cash for Clunkers was the total destruction of some 700,000 cars. As a result, the price of used cars has gone up making it harder for people with limited means to get a decent used car. It also cost auto repair shops and car donation charities a lot of money.
What a nice blog you have..thanks for all this information
Norma
I appreciate the kind comment
Gordon
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