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baddog · 10-29-2009, 06:09 PM

http://articles.moneycentral.msn.com..._blg=1,1341914

The U.S. government is calling its Cash for Clunkers program a big success, with nearly 690,000 vehicles sold in July and August. But a report by automotive Web site Edmunds.com says the program actually cost taxpayers $24,000 per car sold.

Only 125,000, or 18%, of the sales were incremental, according to Edmunds.com -- the remaining 82% of sales would have happened regardless of the program.

The $24,000 is the price for the sales of vehicles that were a direct result of the program, Edmunds.com said.

10-29-2009, 06:09 PM
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	Cash for clunkers program great success. http://articles.moneycentral.msn.com..._blg=1,1341914 The U.S. government is calling its Cash for Clunkers program a big success, with nearly 690,000 vehicles sold in July and August. But a report by automotive Web site Edmunds.com says the program actually cost taxpayers $24,000 per car sold. Only 125,000, or 18%, of the sales were incremental, according to Edmunds.com -- the remaining 82% of sales would have happened regardless of the program. The $24,000 is the price for the sales of vehicles that were a direct result of the program, Edmunds.com said.