Cash for Clunkers: Top 10 purchased cars
Scanning the Wall Street Journal’s Personal Journal section this morning, I came across this list released by the Department of Transportation and Autodata that I thought you would find interesting: The top 10 vehicles purchased under the government’s cash-for-clunkers program.
1. Toyota Corolla
Did you ditch a car in the Cash for Clunkers program?
2. Ford Focus
3. Honda Civic
4. Toyota Prius
5. Toyota Camry
6. Hyundai Elantra
7. Ford Escape
8. Dodge Caliber
9. Honda Fit
10. Chevy Cobalt
Did you participate in Cash for Clunkers? Would you? And did you buy any of these cars?
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36 comments Add your comment
Bill Johnson
August 13th, 2009
7:02 am
Sure didn’t help jobless lil ol me…
CC
August 13th, 2009
7:25 am
My husband is in the car business and Cash for Clunkers has increased sales. It is a good for the county, federal and state income taxes. We had always planned for slow months in the business but nothing could have prepared us for the last eight months. It was a much needed boost to the struggling auto industry.
Russ
August 13th, 2009
7:37 am
They should have made it where you got more for your clunker if you bought a new car made by GM, Ford, or Chrysler, the domestic manufacturers. Even though some of the foreign cars are assembled in the US the economy benefits more from the sales and profits of the American three.
David S
August 13th, 2009
7:42 am
Stealing money from one group in society and giving it to another is not only immoral, but the belief that this transfer of wealth in any way made the overall economy better off is patently absurd.
Socialism has already been shown to be a failed economic system. For some reason, americans are too stupid to have learned, or are too enamored with the idiots they elect to figure this out. I guess they think that somehow americans are so great that they can repeal the laws of economics, just by clicking their heels and hoping things will magically work.
Yes, while car dealers and the local tax wasting authorities are now flush with cash, the value of the dollar has been reduced for all americans and prices for everything will certainly be rising as a result.
http://www.mises.org if you actually want to learn something about economics.
David S
August 13th, 2009
7:47 am
Russ, the only way the economy benefits more from the sales of the big 3 cars is that they break down more often so owners have to spend more to fix them than the better made foreign cars.
The bottom line on all cars sold in american is that they must be over a certain percentage of parts made in america to avoid the tarriffs. The big 3 use as much imported material as will benefit them financially as do the foreign car companies.
The big 3 have already benefitted way too much from decades of tarriffs and other subsidies. And what have they done with their benefits? They continued to produce gas guzzling, poorly made, short lifed vehicles that nobody wanted. These benefits have already cost the american taxpayer plenty, for nothing.
If a business cannot compete on its own, it should fail. To do anything to alter that is to hurt everyone else.
jborodave
August 13th, 2009
8:22 am
So, this stimulus to the economy was a “transfer of wealth”. I guess the GOP’s “supply side economics” (tax cuts for the top 5 percent) wasn’t; and isn’t. According to almost all the car magazines and JD Power, GM and Ford have been making some good reliable models for several years.
I'm Gonna Key Your New Car
August 13th, 2009
9:06 am
While I’m struggling to keep my 1991 and 1992 cars in good shape, I’m real glad to see MY tax money going to buy all these FOREIGN cars for losers like YOU!
Stan
August 13th, 2009
9:22 am
I’m indirectly in the car business. This progam while good for dealers (only in the short term) and good for MFGs (again, short term only) is bad for the people. I’ve read many reports where people traded in paid for cars that ran fine for a car with a payment. That will NOT save you money.
I’ve seen how poorly thought out this program was from the start. It went into effect before the rules of it were in place. That makes no sense. But because it blew through the allotted funds, it is now being called a success.
Atlanta Gal
August 13th, 2009
9:33 am
Some of us need trucks. A dinky hybrid or a small truck isn’t safe to pull a horse trailer. I am trading my old clunker truck for one that is more fuel efficient. Every little bit helps!
Jeff
August 13th, 2009
9:38 am
My two clunkers, 1990 Jag V12 convertible and 1967 Triumph TR4A, are gonna stay in my family til I die. No Toyota econobox could come close to providing the driving enjoyment I get from these two. Of course, if you really don’t enjoy driving, then any set of wheels will suffice.
RGB
August 13th, 2009
9:44 am
Well said, David S. Most people are economically illiterate–and one just posted the tired phrase “tax cuts for the rich” after your post. Either he doesn’t know that the top 1 million American tax filers paid more in taxes than 135 million American tax filers–or he doesn’t care. Either way its their money and the more of them in existence, the more jobs.
I’ll check out the site you posted. Here’s one that I like:
http://polyconomics.com/ssu.html
Please, illiterate poster, do not visit this site. Remain in the dark so that you will continue to be “easy pickins’” for the politicians.
senoiadawgs
August 13th, 2009
9:54 am
I bet the repo men are already lining up. Next headlines in 6 months, Cash for Clunkers huge boom for the repo man. People who can’t afford new cars trading in paid for vehicles in the worst job market possible. Way to go DC you all must be really smart.
senoiadawgs
August 13th, 2009
10:03 am
This would be some interesting data you will never see about the cash for clunkers program. How many of the people that have used the program actually pay $4500 or $3500 of federal tax dollars in a year? For all of those that do not pay that amount can I please borrow my car you are driving?
Tim
August 13th, 2009
10:03 am
I fail to see why it is anyones business what someone bought. If I want to drive 3 hummers, and a 3/4 ton pick-up, I feel like I should be able to without anyone in the government commenting about it. This is still America, right? Or, did we lose something on January 20th when ‘Dear Leader’ took office? I am more concerned with the folks on WIC driving Mercedes Benz then I am with people spending THEIR money the way THEY see fit.
Lilly g
August 13th, 2009
10:10 am
In this economy, someone would trade in a running paid off car, for a car with payments? That’s not the government taking advantage of people, that’s people not using their brains! Just because they offered this program, does not mean everyone had to take it! That’s one of the great parts about America, we have choices!
Noni
August 13th, 2009
10:15 am
Relax Tim, no one is telling you what to drive and what not to drive. They are simply encouraging ppl to drive more fuel efficient cars in an effort to stop depending so much on foreign oil. Well, at least that sounds good! Can I borrow the keys to one of your Hummers this weekend?!
LC
August 13th, 2009
10:17 am
Same thing as people buying houses they couldn’t afford because the government enabled them to do it and look at the mess we are in as a result of that brilliant plan!
Janet Hardesty
August 13th, 2009
10:24 am
I did. I had a 14 year old Cadillac – traded it on a 2010 Kia Soul. I love my new car and the fact that I only have to fill it up once a month. I was going to have to replace the car anyway. It ran, but needed lots of work. I was going to have to spend money anyway. This way I got $4500 of my new car!
David S
August 13th, 2009
10:36 am
Anyone who knows me knows that I have been complaining and fighting against taxation (theft) for all my voting-eligible life. Why is it that any criticism of an Obama program is automatically seen as an endorcement of a Bush or republican program? The republicans are as horrible as the democrats,if not worse. At least the democrats have the courage and audacity to speak like socialists/communists. They love big government and aren’t afraid to say so. Republicans on the other hand say they are for small government so the people with common sense will elect them, then they spend more than the democrats (W is obviously the best example of that – along with his republican congress).
Yes, this program is a forced wealth transfer. You could have gone and spent your own money to buy a car and the dealers would have enticed you with their own money, but this program sweetened the deal with money either stolen directly in taxes or indirectly through inflation of the money supply. The government doesn’t produce wealth to spend, it steals it. Anyone who benefitted from this program is as guilty of theft as if you stole the money yourselves.
And yes, the bulk of our society is set up in this fashion, and yes I would like to see it all go away in favor of government that abides by the constitution. I vote for candidates that support that view and don’t vote for candidates that don’t.
Thousands of industries all over this nation are suffering from the results of the Federal Reserve induced bubble and its collapse. They do not have the lobbyists that the auto industry has, nor do they have the unwarranted support from the uninformed populace that the auto industry has. People are unwilling to objectively look at this program for what it is because they are too self-interested in getting something for nothing via the power structure of the government and because they do not understand basic economics. That is what america has become.
JE
August 13th, 2009
10:44 am
Traded in a 98 Jeep Cherokee Classic (16 mpg)for a sporty new 2010 Mazda 3 (27 mpg). Program was perfect for our family and came at a good time.
Kevin
August 13th, 2009
10:46 am
Just another short term fix for a long term problem.
Maybe one day we will realize that bailing water out of a sinking ship doesn’t help until you plug the hole.
ED
August 13th, 2009
10:47 am
I can’t help but think that this program is forcing people to trade in sooner rather than later. It is basically stealing sales from 2010. If the government is going to offer rebates it should be done when people file their tax returns and done on a continuous basis. And, rebates should be for vehicles that get greater than 25 mpg. I’d rather have my dollars going to countries that produce automobiles than to ones that produce oil.
KJ
August 13th, 2009
10:51 am
You know the best way to “boost the struggling auto industry”? Quit paying high-school dropouts $37 an hour with sick benefits to turn a screw. Then put that money into R&D, so you might actually be able to compete with the non-union auto manufacturers.
Encouraging people who are driving $2000 paid-for cars to trade them in for a $30K note is about as fiscally irresponsible as it gets.
CBL
August 13th, 2009
11:04 am
6 of the 10 cars are foreign, not surprising.
Enticing people with money from us taxpayers to borrow more money to buy new cars they can’t afford- that’s all it is. More subprime lending. Looks like the stupid legislators need to be whacked upside the head until they learn their lesson from causing the housing crisis.
I can’t believe some people can’t see the barbed hook hidden in the stinkin’ bait…
Rhonda K.
August 13th, 2009
11:07 am
Traded a 1997 Ford Explorer that got 15 miles per gallon for a 4 cylinder Jeep Patriot…we’ve been on the fence about getting a new car for a while, and this program worked for us…The Explorer had 170,000 miles on it, no ac, vaccum leaks, the front wideshield was beginning to fall out…but it lasted 10 years, we expect the same from the Jeep!
BPJ
August 13th, 2009
11:08 am
It’s great that more people will be driving fuel-effecient cars. That’s less money going into the pockets of the leaders of Iran, Russia, and Venezuela.
Kevin
August 13th, 2009
11:09 am
KJ, agreed.
This program is just another way to sell people into a lie… that down the road will need another lie and another program to “fix” the first program that was in place to “fix” the auto industry. It is all just a huge game.
This is going to help them create “emergencies” down the road that they will have to continue to “come to the rescue” and “fix.”
However, the government can’t fix crap… but they’re good at letting it fall out of their mouths.
The Truth Hurts
August 13th, 2009
11:20 am
CC since when is the US Government in the car business? Oh yeah…since your buddy Obamalama started nationalizing everything he could put his hands on. Ok so it helped the car business..why don’t we pay for spoiled veggies that are brought into the grocery store so we can help the grocery business? When are you and people like you gonna stop taking every government hand out that Big Daddy Bama wants you to be beholden to him for?….Get some cajones….take care you yourself and stop expecting the government to do it for you.
Crushed Clunkerman
August 13th, 2009
11:24 am
I’m a prototypical C-4-C example:
– Family of 5 owning a Ford Explorer for 13 years and 155k-plus miles, bought new, been paid off for years and thoroughly worn out, with less than $1500 trade-in value and, although mostly dependable, in need of $1500-plus in repairs. Pity… it would have made decent transportation for someone.
– Been planning on a new family car purchase for the past couple of years. The Fed’s hocus-pocus creation of C-4-C came along at the right time for us.
– Was surprised to see that the Feds, in standard bureaucratic operating wisdom, EPA-rated our Ford at 16 mpg, qualifying for C-4-C. That car never acheived less than 19-20 mpg overall. This model is the number-one C-4-C trade-in.
– More surprise to learn that mid-size SUVs also qualified as the new car purchase. We only had to better our trade EPA-mpg by 2 mpg. This is the “special intrest group pleasing” legislative mentality that you get with Community Organizers in charge.
– The biggest surprise: the C-4-C program wasn’t limited to Detroit products, which seemed like the neediest recipients for such help, but what do I know… I’m just a taxpayer. We bought a made-in-Alabama 2010 Honda Pilot, qualifying for the $3500 incentive. Since we were in the dealerships in the weeks before the program started, we were able to get a deep discount off MSRP before going for the C-4-C money.
– Two last points: My household has already paid far more than $3500 in federal income taxes so far this year. As for future visits from the repo man… we work hard and often sacrifice to make good choices in life, and because of that don’t live in a world where that is an option, let alone a threat.
GAStateBusiness
August 13th, 2009
11:32 am
Well said comments David. I am currently an accounting student at GA State and I know for one the trouble all of this is causing from my tax classes.
It is said in basic tax language and concepts that for every good thing the governments does, it does something bad. It’s the “ying yang” theory of government taxation. As for determining whether it is a good thing or not is to measure the net effect of the good and the bad done by the policy.
This “cash for clunkers” has managed many bad things. Number 1 it’s opening up an opportunity for American’s to get into another credit crisis within the auto industry much akin to the housing industry. It is evident by people trading in good running paid off vehicles to have a new car with a payment.
Number 2, this plan has a very poor chance at achieving economies of scales in the long run. It may be a short boost in the short term, but when the money is out, then what? You have American’s left with payments and car companies not knowing what to do next.
Number 3, We are borrowing more money and spreading to programs not necessary in the current economic situation. If you think for a second that deficit gap was big before the stimulus you are in for a big surprise. Americans will be paying for all of this likely past our lifetime and into the next generation in taxes. The more money we borrow for such frivolous programs meant to satisfy constituents who take actions for face value, the worse off we are as a society.
This program is Obama’s way of appeasing his voters with the “let’s do something just to do it because something has to be changed” mentality. That’s all. Alas, we will all pay for it.
Well Grounded
August 13th, 2009
12:03 pm
Foreign car buyers are the most ignorant lot of people on earth when it comes to the reasons they but them.. reliability? Show me the data. Seriously, show me the data that backs up the claim that Honda, Toyota, etc have better reliability than Domestic. Not car for car even, but overall. Data, hard facts.
The foreign car buyer is the ipod buyer, is the trendy jean buyer.. is the do what other people are doing and it makes me cool type. I know many.. and it’s quite funny the reasons they give. All parroting each other.
Well Grounded Isn't
August 13th, 2009
2:45 pm
Well Grounded, well, isn’t.
My personal experience is that I have fewer problems with Japanese cars. This experience is in line with the findings of Consumer Reports subscribers who complete the Annual Auto Survey. Overall, Toyota, Honda, Nissan, and now Hyundai rank better than the American brands. Select American brands do well but many of those are based on Japanese platforms (Ford Fusion, Mercury Milan, etc.). American-made trucks fare better and some nameplates, such as Buick, perform well. Last time I rode by a Buick dealership, I didn’t see people clamoring to get in, however.
To say that foreign car buyers are ignorant is to say the customers of auto manufacturers are ignorant–which is what GM (Government Motors), Chrysler, and Ford have been saying for years. They’ve paid the price for having that attitude. Deny it all you want, but buyers of expensive products vote with their feet.
And those feet have left Chrysler and GM in the dust.
Check out the April 2009 Consumer Reports Auto Issue on page 14 (”Japanese automakers get the highest marks”.)
Reliability by Brand (Top 10):
Scion
Acura
Honda
Toyota
Lexus
Infiniti
Subaru
Hyundai
Mitsubishi
Kia
The survey includes data for 1.4 million vehicles. This compares to the data you offered: Zero vehicles.
Bagged another goonion member.
Affluent Pauper
August 14th, 2009
10:42 am
Cash for clunkers may stimulate the economy (and pad automakers pockets), but I’m not sure that it necessarily helps out people who truly need it. People that are driving around in clunkers typically can’t afford the burden of a new car payment with or without the incentive. As for me, I purchased a Honda Civic in 98 and would love to take advantage of the new program, but my Civic doesnt qualify because it’s not considered a clunker! Thanks for the blogroll link by the way Rana!
George BUSH
August 20th, 2009
10:00 pm
To all the brilliant economist commenting here,why don’t you stop itemizing all of the problems in America and with this program and put those noggins to work and offer a comprehensive solution. uh oh did i defeat your reason for existing ? stop bitching, complaining and acting like girly men talk and help all of us who have drank the Kool-Aid. You should be more patriotic ……..W
Jim
August 23rd, 2009
10:18 am
Traded an 89 Lincoln Town Car for a 09 Honda Accord. Got $3,500 instead of $4,500 but then again I got the car I wanted. This is a boost to manufacturers, dealerships, state and local tax revenues,and the banks and finance companies who are providing the financing. Don’t put much weight into the argument that this is socialism. Let’s face it. Do you honestly believe that federal tax money that’s taken out of your paycheck every week comes back as a benefit to you dollar for dollar? If any thing this program was too small in scope. More cars should have qualified as “clunkers.” Germany recently had a similar program that they spent 7 billion on. Our program was less than half of that. I do question how much of these “clunkers” are being recycled for spare parts. Poorer people should have access to these parts at reduced rates. I realize not every person can go out and buy a new car at the drop of a hat. This has to be the only decision that I can agree with the Obama administration on since January.
just me
September 2nd, 2009
6:01 pm
Thanks “George BUSH”, for the comment. For a minute I thought I was the only one who felt that way. Stop pointing fingers at problems and start becoming part of a solution-KNOW-IT-ALLS!
By the way, LAY OFF OBAMA! You act as if he is the one who put us in this position. He inherited this CRAP! I’d like to see you fix this catastrophe! If you have a better plan- then let’s hear it. Let’s hear your great ideas to fix EVERYTHING that is wrong in this country!