Cash For Clunkers Generates 700K New Car Sales

The Transportation Department says the popularCash for Clunkers program generated nearly 700,000 new car salesand came under the $3 billion budget for the monthlong program.

By: Katie Hammond | WKRG-TV
Published: August 26, 2009

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WASHINGTON (AP) - The Transportation Department says the popular
Cash for Clunkers program generated nearly 700,000 new car sales
and came under the $3 billion budget for the monthlong program.
The government said Wednesday dealers submitted 690,114 vouchers
totaling $2.88 billion in the program, which ended Tuesday.
Japanese automakers Toyota, Honda and Nissan accounted for 41
percent of the new vehicle sales, outpacing Detroit automakers
General Motors, Ford and Chrysler, which had nearly 39 percent.
The Toyota Corolla was the most popular new vehicle purchased
under the program, followed by the Honda Civic, Toyota Camry and
Ford Focus.
The car incentive program offered consumers rebates of $3,500 or
$4,500 to trade in a gas-guzzler in exchange for buying a new car.

(Copyright 2009 by The Associated Press. All Rights Reserved.)