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Cash For Clunkers - CARS Program Statistics and Color Commentary

C.A.R.S. Program Statistics as of Wednesday, August 26th, 2009

Dealer Transactions
Number Submitted: 690,114
Dollar Value: $2,877,900,000
Payments Received by Dealers to Date: Less than 1%
Cash-Flow Damage to Dealership Balance Sheets to Date: Priceless

84% of trade-ins under the program are trucks, and 59% of new vehicles purchased are cars. The program worked far better than anyone anticipated at moving consumers out of old, dirty trucks and SUVs and into new more fuel-efficient cars. Which must be why the US Congress gave less than 3% of the funding to the Cash For Clunkers program than it gave towards bailing out AIG and the bonuses paid to AIG management. Imagine what this program could have done for the US Economy if it were funded with just 10% of the money given to AIG's board of directors so they could pay foreign institutions who lost money on hedge funds insured by AIG...

Top 10 New Vehicles Purchased
1. Toyota Corolla
2. Honda Civic
3. Toyota Camry
4. Ford Focus FWD
5. Hyundai Elantra
6. Nissan Versa
7. Toyota Prius
8. Honda Accord
9. Honda Fit
10. Ford Escape FWD

New Vehicles Manufacturers
Toyota 19.4%
General Motors 17.6%
Ford 14.4%
Honda 13.0%
Nissan 8.7%
Hyundai 7.2%
Chrysler 6.6%
Kia 4.3%
Subaru 2.5%
Mazda 2.4%
Volkswagen 2.0%
Suzuki 0.6%
Mitsubishi 0.5%
MINI 0.4%
Smart 0.2%
Volvo 0.1%
All Other <0.1%

Top 10 Trade-in Vehicles
1. Ford Explorer 4WD
2. Ford F150 Pickup 2WD
3. Jeep Grand Cherokee 4WD
4. Ford Explorer 2WD
5. Dodge Caravan/Grand Caravan 2WD
6. Jeep Cherokee 4WD
7. Chevrolet Blazer 4WD
8. Chevrolet C1500 Pickup 2WD
9. Ford F150 Pickup 4WD
10. Ford Windstar FWD Van

Vehicles Purchased by Category
Passenger Cars: 404,046
Category 1 Truck: 231,651
Category 2 Truck: 46,836
Category 3 Truck: 2,408

Vehicle Trade-in by Category
Passenger Cars: 109,380
Category 1 Truck: 450,778
Category 2 Truck: 116,909
Category 3 Truck: 8,134

Average Fuel Economy
New vehicles Mileage: 24.9 MPG
Trade-in Mileage: 15.8 MPG
Overall increase: 9.2 MPG, or a 58% improvement

Cars purchased under the program are, on average, 19% above the average fuel economy of all new cars currently available, and 59% above the average fuel economy of cars that were traded in. This means the program raised the average fuel economy of the fleet, while getting the dirtiest and most polluting vehicles off the road. If the Cash For Clunkers program had been allowed to continue through the date originally authorized by the US Congress (November 1, 2009), at the actual run rate through the curtailed program period, the USA would have improved the fuel economy of the entire national fleet of Vehicles In Operation by over 10% and dramatically reduced both carbon emissions and poisonous gas pollution which currently costs our economy billions of dollars in mitigation efforts and the destructive effects of climate change. Had this program been implemented by the Bush Administration and funded with just 10% of the TARP funds demanded so quickly by the Bush administration, the recession of the US economy would have stopped by May 2009 and measurable recovery would have already begun.

Requested Voucher Dollar Amount by State:
ALABAMA $31,251,500
ALASKA $4,868,500
ARIZONA $39,542,500
ARKANSAS $23,402,500
CALIFORNIA $326,822,000
COLORADO $37,676,500
CONNECTICUT $40,114,000
DELAWARE $11,235,000
DISTRICT OF COLUMBIA $67,500
FLORIDA $146,565,000
GEORGIA $70,496,000
GUAM $675,000
HAWAII $7,333,500
IDAHO $11,655,000
ILLINOIS $143,613,000
INDIANA $65,797,000
IOWA $37,728,000
KANSAS $31,496,500
KENTUCKY $40,246,500
LOUISIANA $33,376,500
MAINE $16,579,500
MARYLAND $74,903,000
MASSACHUSETTS $64,855,000
MICHIGAN $132,407,500
MINNESOTA $73,160,500
MISSISSIPPI $12,463,500
MISSOURI $61,271,500
MONTANA $6,461,000
NEBRASKA $21,784,500
NEVADA $14,582,000
NEW HAMPSHIRE $23,045,500
NEW JERSEY $103,375,500
NEW MEXICO $13,941,500
NEW YORK $156,292,000
NORTH CAROLINA $78,601,500
NORTH DAKOTA $8,938,000
OHIO $136,267,000
OKLAHOMA $37,422,000
OREGON $37,531,500
PENNSYLVANIA $138,651,500
PUERTO RICO $2,252,000
RHODE ISLAND $10,690,500
SOUTH CAROLINA $37,207,500
SOUTH DAKOTA $10,367,500
TENNESSEE $50,949,000
TEXAS $183,776,500
UTAH $24,102,500
VERMONT $9,879,000
VIRGIN ISLANDS $1,553,000
VIRGINIA $98,523,500
WASHINGTON $55,927,500
WEST VIRGINIA $13,477,000
WISCONSIN $70,165,000
WYOMING $2,513,000

Additional Information

Website Visits:
Latest day (August 24): 524,794
Cumulative (June 22-August 24): 16,558,873
Dealership Employee Hours Lost on CARS.gov: 28,457,728
Number of Errors generated by CARS.gov: 42,562,931
Calls to Suicide Help lines by dealership employees tasked with filing CARS.gov claims: 2,752,961

Hotline Contacts:
Latest day (August 24) 12,924

Hotline and Website statistics generally run 2-3 days behind current day

Views: 256

Tags: CARS Program, Cash For Clunkers, Economic stimulus, Statistics and Commentary

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Comment by Keith Shetterly on August 31, 2009 at 9:14am
Amazing how on the order of 23,000 dealerships can "tote the note", still, for 99% of the nearly $2.9billion they all wait on. More amazing is how the fed gov't EXPECTS this to be okay!!
Comment by Philip Zelinger on August 30, 2009 at 1:20pm
The next shoes to drop into the crushers will be the lost service for domestic dealers/indpendent service centers and the related parts/tire suppliers who USED TO service the now crushed vehicles, the money that consumers who USED TO purchase the now crushed vehicles to avoid car payments and to have basic transportation when their credit dictated otherwise will now have to pay for the remaining "clunkers", the additional costs to consumers for the remaining new vehicles that survived in the dealer's inventory that must carry the dealer's profit until supply catches up to demand, the lost market share of the domestic manufacturers since the vast majority of new vehicles purchased were imports while virtually 100% of the vehicles that were crushed/traded-in were domestics which sugggests that the "customer loyalty" chain has been broken and of course the hundreds of dealers who won't survive their next floor plan audit or cover their next payroll since the check is "in the mail" and the odds are that the 2.8 billion that was supposedly processed probably didn't count the other 500 million or so that never made it in to the system since it crashed more than the media seems to have mentioned.

Oh well, since the program was such a great success - according to that same media - maybe we should do it again - NOT!!!!!

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