Yet another reason why Cash for Clunkers is a bad idea. As you can see from the list below, all of the cars traded in were American and only 40 percent of the cars purchased were. The rest of the money went to foreign automakers.
Another government program with unintended consequences. When will we learn?
From the DOT:
Ten Top Trade-Ins Under Cash for Clunkers
1. Ford Explorer
2. Ford F150 Pickup 2WD
3. Jeep Grand Cherokee 4 WD
4. Jeep Cherokee 4 WD
5. Dodge Caravan/Grand Caravan
6. Chevrolet Blazer 4 WD
7. Ford Explorer 2 WD
8. Ford F150 Pickup 4 WD
9. Chevrolet C1500 Pickup 2 WD
10. Ford Windstar FWD Van
Top Ten New Car Purchases: Cash for Clunkers
1. Toyota Corolla
2. Ford Focus FWD
3. Honda Civic
4. Toyota Prius
5. Toyota Camry
6. Ford Escape FWD
7. Hyundai Elantra
8. Dodge Caliber
9. Honda Fit
10. Chevrolet Cobalt
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Justin
Not only did the money go to foreign car makers, but we shipped the melted, clunked steel to CHINA!!!
gay fish
I agree with you… one silver lining to it is that most of the cars traded in have bad gas mileage and the cars purchased get good MPG.