Edmunds.com has analyzed the "Cash for Clunkers" program. When you consider how many people would have bought a car anyway, the cost of each new sale stimulated was $24,000. This is about the same as giving away cars.
From CSM:
American taxpayers paid a lot of cash for those clunkers: $24,000 for each new car sold, according to a study released Wednesday.
...The firm says that number is about 125,000 cars. By that measure, the government spent $24,000 to generate each sale of a new car.
$24,000!!-you can get a great-low milage- practically new Lexus ES for that and it will last forever!!
ReplyDeleteor-a new something or other...that won't....
And most of the cars were Toyotas and Hondas.
ReplyDeleteNot American cars.