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cash for clunkers was a fools program, it had zero impact on the auto industry or the individual who participated in the program. It was simply an inexpensive gimmick used by the government to sway voters leaning.
it is outdated today Hank we have computers.
It’s been just over two years since the federal government’s $3 billion Car Allowance Rebate System — better known as Cash for Clunkers — took 677,081 used cars off the road, spurring an equal number of new-car sales in a recession-battered economy. Vince Powell says he can still feel its effects. Powell owns Powell Motors, an independent used-car dealership across the Willamette River from downtown Portland, Ore.
"Obviously a lot of them were junk and deserved to be called clunkers," says Powell, who owns the store his father began in 1933. But a sizable chunk — Ford Explorers and other four-wheel-drivers — were "decent cars," he says. "I think we’re paying for it now. Prices for used cars are up, and the cheaper stuff was higher now than it was before."
In the program’s aftermath, slashed supplies drove used-car prices up.
Read more at https://www.cars.com/articles/2011/10/cash-for-clunkers-two-years-l...
inventory of used cars is down because fewer people are buying new cars keeping the ones they have longer and the export of used cars is up. Lower inventory means higher prices.
That analysis makes no sense at all. The amount of credit a person could get for their clunker is not near enough to purchase a car of lesser value. If the government spent $3 billion on clunkers and the auto industry only sold $3 billion in cars for the same period that tells you absolutely nothing in terms of the value of the program. Many people may have just took advantage of the program without purchasing another car. The auto industry sold $3 billion in cars how much would they have sold if there was no clunker rebate?
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