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Clunkers good to Asian carmakers
Cars traded in as part of the Cash for Clunkers program are parked at the Team Ford dealership in Las Vegas, Nev.
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TEXT OF STORY
Steve Chiotakis: So what does the auto industry of the future look like? Greener, more fuel efficient, and perhaps dominated by Asian auto companies. The Department of Transportation just released its very telling top 10 lists for the Cash for Clunkers program. Marketplace's Steve Henn breaks it down.
Steve Henn: OK, so here's a quick rundown of the top 10 vehicles Americans traded in under the Cash for Clunkers program: Ford Explorer grabbed the top spot, followed by a Ford pickup, then a jeep, another Ford, a couple Chevys -- you get the idea. It was an all-American sweep of junked gas guzzlers.
So what were people buying?
Toyota took three of the top 10 spots with Corolla winning the sales race. But not a single model made by GM or Chrysler cracked the top 10. Ford was the only domestic automaker to make the list with its Focus and Escape models.
The Department of Transportation was quick to point out that most of the top-selling models are actually made in the U.S. And it credits clunkers with saving 42,000 jobs.
In Washington I'm Steve Henn for Marketplace.
The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate. Henry Blogger www.cashforclunkersfacts.info http://www.cashforclunkersfacts.info
Even with Cash for Clunkers never forget to negotiate the car price.
Jimhenry
Blogger
www.cashforclunkersfacts.info
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