Cash for Clunkers: Dealers claim more than 316,000 "clunkers" for $1.33 billion [w/VIDEO]
On Monday we reported that as of August 7, U.S. auto dealers had received 245,000 Clunkers worth $1.03 billion as of. Today is Wednesday, August 12 and those numbers have swelled by 71,000 cars and $300 million. Put another way, dealers are hoping to collectively collect $60 million a day. And that's counting weekends. The amount per weekday is closer to $90 million.
As of right now, there's $1.66 billion left in the replenished Cash 4 Clunkers program. If consumers continue buying cars at the current rate, that's just about 28 days until the program is tapped out. We know there's a zombie film analogy to be made here, but we're going to resist. We will however provide a video (after the jump) of a 1995 Ford Explorer getting its engine seized, which we know to some folks is more frightening than any zombie flick.
[Source: Detroit News | Image Source: Paul J. Richards/Getty/AFP]
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Reader Comments (Page 1 of 3)
Kurdaj 6:36PM (8/12/2009)
there's got to be irony, pouring liquid-death from a bottle marked "LONGLIFE GOLD!"
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StanleyVanBuren 6:57PM (8/12/2009)
The destruction of any Ford Explorer is a beautiful thing.
It is/was one of the worst cars of all time. Worse still because it inspired a league of copycats that became the whole "SUV craze." Big, ugly, inefficient, slow, couldn't handle, and made everyone think they needed 4 wheel drive when they didn't. Terrible, terrible car.
Jim 7:23PM (8/12/2009)
"The destruction of any Ford Explorer is a beautiful thing."
Autoblog Green is down the hall.
StanleyVanBuren 7:32PM (8/12/2009)
Nope, certified petrol-head here.
What part of "slow" and "couldn't handle" did you miss?
TimO 8:07PM (8/12/2009)
What part of "it's a truck-based SUV" did you miss?
Never a huge fan, but they were really useful vehicles if you needed one.
Frank 8:56AM (8/13/2009)
You missed a big part of 'it inspired a league of copycats that became the whole "SUV craze."', because the Explorer was not the first, it was a copycat of the Jeep Cherokee.
StanleyVanBuren 11:55PM (8/13/2009)
That's true, but it was the Explorer's lead that everyone else followed -- not the Cherokee.
merlot066 4:12AM (8/18/2009)
The Explorer was the SUV that did everything right, that's why it was America's favorite every single year since it was made (16 years until it's unfortunate "refresh" in 06 or whenever that was).
Chris Carey 6:37PM (8/12/2009)
Pour in Penzoil longlife oil and boom instaseize...
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notYou 12:32PM (8/13/2009)
You mean in gramma and grandpa to save on end-of-life care costs? Neat!
Oh, sorry, I confused Cash for Clunkers with the forthcoming Cash for Seniors program.
tankd0g 6:42PM (8/12/2009)
Congratulations US government, on putting the price of steel back in the toilet.
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Mr.Oak 6:51PM (8/12/2009)
Quit already. Which is more important at this present moment? The price of steel, or the price of standing idly by and letting more people lose their jobs.
For the greater good, sometimes a little blood has to be spilled during open heart surgery, in order to save the patient's life.
13enS 6:58PM (8/12/2009)
"For the greater good, sometimes a little blood has to be spilled"
Which could be said of those jobs & companies too...
Mr.Oak 7:06PM (8/12/2009)
13enS: In that instance, yes, if the greater good is the survival of the company. However, it the greater good is a larger dividend to shareholders, not so much.
13enS 7:17PM (8/12/2009)
@Mr.Oak
I agree with you, the price of steel is a minuscule part of the big picture. But I was implying we should have let them go under, loose the jobs, bring in the start-ups co.'s, "create new jobs" and move forward. I'm against the C.A.R.S. program and keeping the "too big to fail" companies afloat. (Especially on "my dime.") Would it be a blow to the economy? Definitely. Is it necessary to have real innovation, better products, and smarter business models? Absolutely.
Mr.Oak 7:48PM (8/12/2009)
13enS: It would take startups about a decade replace 10% of what would be lost, if we were to lose both GM and Chrysler. Also, it has been said that Ford would have been adversely affected by such a catastrophe.
We will never know if your assumption was right. However, I know of a few million folks that are happy that we will never find out.
Every week when an auto worker pays income tax, instead of collecting an un-employment check, is saving you tax dollars. Over time, they and the companies that they work for, will pay enough taxes, that we WILL cross the break-even point. Everything else is gravy. The short sighted doesn't see that far ahead.
13enS 1:14AM (8/13/2009)
"We will never know if your assumption was right. However, I know of a few million folks that are happy that we will never find out."
And where did you get 10% over 10 years? I understand there are people glad we wont find out. But it was you who brought up the "spill a little blood" comment. Look at coach builders turned automobile manufactures around the turn of the century. The US had hundreds of them. They all became just three companies over time or fell by the wayside. We're now at another chapter in automotive history.
Had/should any or all of the big three failed, new companies would have sprung up out of necessity and ingenuity. It's already taking place. We need more though. Look at people like Tom Matano (Retired Mazada design chief and now w/ V-Vehicle Co.). Lets not stifle it by keeping these old companies afloat. And with our tax dollars no less. We need more start ups and less life rafts for these companies. True capitalism is very much sink or swim. Do some breathing exercises if you need to, we'll be under for a while. But we'll be stronger for it too.
Mr.Oak 7:03AM (8/13/2009)
13enS: We'll be stronger for it, like the British Empire is stronger for it after letting their auto-industry fall by the wayside.
The next time your kid or parent become ill, skip the medical treatment, just start digging their graves.
Chrysler MIGHT have been a canidate for euthanasia, GM was worth the effort.
Save the Viper (nostalgia), Jeep & Dodge (viable business) sell them off.
Phil 7:43PM (8/12/2009)
I work at a large dealership. Management just shut the program down because they fear they will not get paid out for all the cars.
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13enS 6:55PM (8/12/2009)
Screw you, Uncle Sam! Give me back my money!
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