Cash for Clunkers did better than thought
NEW YORK (CNNMoney.com) -- The government's Cash for Clunkers program resulted in a far bigger boost to car sales than was previously estimated, even by the government, according to a new analysis by Maritz Research, an automotive market research company.
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Source: Cash for Clunkers did better than thought
Quote from the article:
Maritz estimates that a total of 765,000 new vehicles were sold because of the program. Those cars wouldn't have rolled off dealer lots without the offer, they say. That's more than double the Department of Transportation's estimate of 346,000 sales that wouldn't otherwise have been made. Maritz' estimate of additional new car sales resulting from the program is actually even larger than the total number of vehicles sold under Cash for Clunkers. Government records indicate that a total of 677,000 new vehicles were purchased under the program. According to Maritz, 542,000 of those sales were made to people who didn't plan to buy a car otherwise. Additionally, another 223,000 people were lured into dealerships by the program, learned they didn't qualify for the benefit, but purchased a car anyway. |
Source: Cash for Clunkers did better than thought
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