The more things change, the more they change back again. Or something. As of August 3, Reuters reports that the number one car Cash for Clunking consumers were purchasing was the long-in-the-tooth Ford Focus. Well, just two short days later, the Focus has been dethroned and Toyota's Corolla – the best selling car in the history of the world – has reportedly taken the crown. Two fun piece of relevant (if tangential) trivia – Corolla means "little crown" in Latin, and one example is sold about every 40 seconds, meaning that by the time you finish reading this post, two more will have found homes. In case you were wondering, Ford's price leader drops to number two and the Honda Civic has shifted into third place. Toyota has two other cars rounding out the top five, the Prius and the Camry. And just over 80% of the clunkers being traded-in are still trucks.
To date, 180,000 new cars have been sold as a result of the C4C program. So far, the program's total government expenditure amounts to just over $775 million. Late Wednesday, the Senate reached an agreement that would pour an additional $2 billion into C4C coffers. Additionally, consumers will now have until September 1 to trade in their old cars and receive a voucher for between $3,500 to $4,500. The new plan was largely pushed through by Senate Majority Leader Harry Reid, who pointed out that Democrats have enough votes to approve the new plan as well as reject any changes to it. Cheers to Matt and several others for the tip.