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The Mess That Greenspan Made: How much did Cash for Clunkers cost?
The Daily Bail: Cash For Clunkers Costs Taxpayers $24,000 Per Vehicle
Reactions
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Edmunds.com study shows true cost of $24,000 per additional car sold under cash for clunkers http://tinyurl.com/ylrlcc6 18 days ago |
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Study: Cash for Clunkers cost taxpayers $24k per vehicle sold. 82% would have been sold without incentives http://bit.ly/10tyr 11/3/2009 |
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http://www.edmunds.com/help/about/press/159446/article.html reality is amazing 11/3/2009 |
How much did Cash for Clunkers cost?
The Mess That Greenspan Made —
The White House is in sharp disagreement with a new report by Edmunds.com indicating that the Cash for Clunkers program cost some $24,000 per vehicle when the program's total cost is spread out over the number of "incremental" cars sold. ...
Cash For Clunkers Costs Taxpayers $24,000 Per Vehicle
The Daily Bail —
... gave car buyers rebates of up to $4,500 if they traded in less fuel-efficient vehicles for new vehicles that met certain fuel economy requirements. A total of $3 billion was allotted for those rebates.
The average rebate was $4,000. But the overwhelming majority of sales would have taken place anyway at some time in the last half of 2009. That means the government ended up spending about $24,000 each for those 125,000 additional vehicle sales.
Read the original report from Edmunds ...
Halloween recession thoughts
Andy Swan —
... Interesting that we paid $24,500 to convince each person that wouldn’t have bought a car but did because of cash for clunkers to trade in their current shitty car for tomorrow’s shitty car. ...
Cash for Clunkers Duel: Edmunds vs the White House
Mises Economics Blog —
... On October 28, Edmunds posted a press release: "Cash for Clunkers Results Finally In: Taxpayers Paid $24,000 per Vehicle Sold, Reports Edmunds.com." Edmonds explains the process it used to arrive at incremental vehicle sales from Cash for Clunkers incentives, and then calculated the average cost per vehicle. ...
Swimming in Cash, But Still Feeling Poor
Minyanville —
... ) -- have increased their liquidity levels by 67% since last year. Government programs have tried to tackle the problem with limited success. The now-expired Cash for Clunkers program appeared to take taxpayer money out of one pocket and stuff it in another, creating little real or lasting economic growth. Edmunds.com reviewed the program and said it added only 125,000 additional car sales beyond what consumers would have purchased on their own. Edmunds.com then divided the program s $3 billion in federal funding by 125,000 and calculated the cost to taxpayers at $24,000 for ...
The new politics of the old Detroit auto industry.
Scrivener.net —
... kept making a profit in hard times, and is still standing up all on its own. Who will you root for in this competition? (Remember that as a taxpayer you have $70 billion invested in GM and Chrysler.) And as all this happens, the White House moves on from its battle with Fox News to attack Edmunds.com over its review of "Cash for Clunkers". Earlier, using Administration data, this blog estimated that each CfC car sale cost more than $13,000 -- Edmunds.com says $24,000, while the average price of a car was $27,000. Either way... (With all the problems ...
