Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[STUDY: Cash for Clunkers helped Japanese way more than Detroit 3]]>http://www.autoblog.com/2009/11/13/study-cash-for-clunkers-helped-japanese-way-more-than-detroit-3/http://www.autoblog.com/2009/11/13/study-cash-for-clunkers-helped-japanese-way-more-than-detroit-3/http://www.autoblog.com/2009/11/13/study-cash-for-clunkers-helped-japanese-way-more-than-detroit-3/#commentsFiled under: , , , , , ,



While there is no question that Obama's Cash-for-Clunkers program accelerated vehicle sales this summer, a new report by the University of Michigan's Transportation Research Institute shows the big winners were from Japan, not Detroit.

According to the study, nearly 85 percent of the trade-ins were from General Motors, Ford, and Chrysler, yet they only sold 39 percent of the new cars moved off the lots. On the other hand, 8 percent of the trade-ins came from Toyota, Honda, and Nissan, manufacturers who accounted for 41 percent of new car purchases.

While these numbers may be justified by the large quantity of inefficient domestic trucks and SUVs that were deemed clunkers, customer loyalty also seems to have taken a big shift. About 68 percent of owners who traded in Toyota, Honda, or Nissan vehicles replaced them with another from one of those Japanese brands, while only 43 percent of consumers who traded in Detroit steel purchased another General Motors, Ford, or Chrysler product. The program cost the U.S. taxpayers about $3 billion.

[Source: USA Today | Image: Justin Sullivan/Getty]

STUDY: Cash for Clunkers helped Japanese way more than Detroit 3 originally appeared on Autoblog on Fri, 13 Nov 2009 19:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>auto salvageAutoSalvagebillionCash for ClunkersCashForClunkersCFCcostObamasalvagetrade-intrade-insFri, 13 Nov 2009 19:30:00 EST<![CDATA['Blue States' reportedly biggest winners in Cash For Clunkers]]>http://www.autoblog.com/2009/09/08/blue-states-reportedly-biggest-winners-in-cash-for-clunkers/http://www.autoblog.com/2009/09/08/blue-states-reportedly-biggest-winners-in-cash-for-clunkers/http://www.autoblog.com/2009/09/08/blue-states-reportedly-biggest-winners-in-cash-for-clunkers/#commentsFiled under: , ,



In the wake of the government's Cash for Clunkers program, analysts are crunching the data to determine who benefited the most from the month-long incentive program. Interestingly enough, it appears that "Blue States" (states where the residents predominantly vote for Democrat) benefited the most. USA Today reports that the 28 states that voted for Barack Obama have requested nearly $2.13 billion in rebates. On the other hand, states that voted for John McCain (a.k.a. "Red States"), have only requested $757 million.

Political analysts are puzzled, as there is no clear-cut indicator to explain the findings. One has suggested that middle-class Americans in Blue States took advantage of the rebate, even if they weren't in the market for a new car. Another suggested that it was up to the dealers. "I know in Tennessee, dealers were pulling back, whereas in Illinois, the dealers were all gung-ho," said a democratic pollster. One significant deciding factor was credit. Mississippi (a red state) finished second from the bottom. "I'm sure there are a lot of people who would have loved to trade in, but in Mississippi, income and credit right now are the worst I've seen," said the general manager of a dealership in the state.

[Source: USA Today]

'Blue States' reportedly biggest winners in Cash For Clunkers originally appeared on Autoblog on Tue, 08 Sep 2009 17:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>analysisanalystanalystscash for clunkerscash for clunkers billcash for clunkers taxesCashForClunkersCashForClunkersBillCashForClunkersTaxesCFCDemocratParty linesPartyLinesRepublicanTue, 08 Sep 2009 17:58:00 EST<![CDATA[Cash-for-Clunkers trade-ins account for 7 percent of Hyundai sales in first week]]>http://www.autoblog.com/2009/07/10/cash-for-clunkers-trade-ins-account-for-7-percent-of-hyundai-sal/http://www.autoblog.com/2009/07/10/cash-for-clunkers-trade-ins-account-for-7-percent-of-hyundai-sal/http://www.autoblog.com/2009/07/10/cash-for-clunkers-trade-ins-account-for-7-percent-of-hyundai-sal/#commentsFiled under: ,



So far, Hyundai has been the only automaker in the U.S. to accept early trade-ins under the Car Allowance Rebate System (CARS), or Cash-for-Clunkers (CFC), program. Most are waiting for the U.S. Department of Transportation to finalize the program's rules and regulations by July 24th, but Hyundai decided to start early since the program covers all transactions dating back to July 1st. Since the government hasn't set up a reimbursement process for the rebates that range from $3,500 to $4,500 just yet, Hyundai is floating its participating dealers short-term loans in the meantime.

After just one week of accepting Cash-for-Clunkers trade-ins, Hyundai has revealed that these deals added up to 7 percent of its overall sales and could reach 10 percent by month's end. The most interesting statistics, however, are what's being traded in. While Hyundai doesn't break it down by model, according to its numbers, 32 percent were Ford vehicles, 23 percent Dodge and the rest were from Lexus, Jaguar and Mercedes-Benz. Keep in mind, all these customers are trading in for a Hyundai, and 41 percent chose the Elantra! The Sonata came in second with 29 percent of CFC sales and the Accent third with 16 percent.

Judging by this early report on how the CFC program affects sales, it will be very interesting to see what happens after the hammer drops on July 24th and all automakers begin participating. The effect on July sales will likely be small, so we'll have to wait until the end of August to see if Cash-for-Clunkers has really made a difference. For Hyundai, however, it already has.

[Source: Hyundai]

Continue reading Cash-for-Clunkers trade-ins account for 7 percent of Hyundai sales in first week

Cash-for-Clunkers trade-ins account for 7 percent of Hyundai sales in first week originally appeared on Autoblog on Fri, 10 Jul 2009 17:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>car allowance rebate systemCarAllowanceRebateSystemcash for clunkerscash-for-clunkersCashForClunkersCFChyundaihyundai salesHyundaiSalesFri, 10 Jul 2009 17:29:00 EST<![CDATA[Hyundai starts accepting Cash-for-Clunkers trade-ins early]]>http://www.autoblog.com/2009/07/02/hyundai-starts-accepting-cash-for-clunkers-trade-ins-early/http://www.autoblog.com/2009/07/02/hyundai-starts-accepting-cash-for-clunkers-trade-ins-early/http://www.autoblog.com/2009/07/02/hyundai-starts-accepting-cash-for-clunkers-trade-ins-early/#commentsFiled under: ,


2009 Hyundai Elantra Touring - Click above for high-res image gallery

While the National Highway Traffic Safety Administration doesn't plan to release its final rules and regulations for the Car Allowance Rebate System (CARS), otherwise known as Cash-for-Clunkers program, until July 23rd, Hyundai has decided that its customers don't have to wait. Alexandria Hyundai in Alexandria, VA has already accepted the first trade-in and doled out its first rebate. The clunker is a 15-mpg 1995 Ford Explorer, and Katherine Michon of Arlington, VA traded it in for a $4,500 credit on a brand new 26-mpg Hyundai Elantra Touring.

How can Hyundai get away with accepting clunkers early? The automaker is giving dealers short-term cash advances to cover the cost of its rebates until the CARS program officially kicks off later this month. Hyundai has 13 models with particular engine combinations that qualify for CARS, and the NHTSA has already confirmed that transactions on or after July 1, 2009 are eligible.

This could be a brilliant move on Hyundai's part, since its own internal research shows that 11 percent of car shoppers have delayed their purchase to take advantage of the rebates. If Hyundai is the only game in town that's accepting trade-ins and giving rebates early, it could steal a few sales away from other brands that are waiting patiently for the program to officially begin.

On the other hand, the NHTSA warns on the CARS official website that "interested dealers and consumers may want to wait until all of the detailed issues that must be addressed in the implementing regulations are resolved and the final rule is issued." By that time, however, you'll be driving around in a new car and getting reimbursed for the rebate will by Hyundai's problem.


Gallery: Review: 2009 Hyundai Elantra Touring


[Source: Hyundai]

Continue reading Hyundai starts accepting Cash-for-Clunkers trade-ins early

Hyundai starts accepting Cash-for-Clunkers trade-ins early originally appeared on Autoblog on Thu, 02 Jul 2009 17:28:00 EST. Please see our terms for use of feeds.

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