Cash for Clunkers a great success

Remember the “Cash for Clunkers” program last year? I know that everyone who is familiar with the program has their own take on whether it was a good idea. According to a new analysis by Maritz Research, an automotive market research company the program was better than even it’s supporters imagined!

From CNN.com:

NEW YORK (CNNMoney.com) — The government’s Cash for Clunkers program resulted in a far bigger boost to car sales than was previously estimated, even by the government, according to a new analysis by Maritz Research, an automotive market research company.

Maritz estimates that a total of 765,000 new vehicles were sold because of the program. Those cars wouldn’t have rolled off dealer lots without the offer, they say.

That’s more than double the Department of Transportation’s estimate of 346,000 sales that wouldn’t otherwise have been made.

Maritz’ estimate of additional new car sales resulting from the program is actually even larger than the total number of vehicles sold under Cash for Clunkers.

Read the full article here.


Photo from fOTOGLIF

  

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