Cash for Clunkers cost taxpayers $24,000 per car

[Stephen]

http://www.dailytech.com/Cash+For+Cl...ticle16097.htm
Cash for Clunkers Results Finally In: Taxpayers Paid $24,000 per Vehicle Sold, Reports Edmunds.com

Edmunds studied it, and came up with a figure of $24,000 per car, as calculated by viewing the number of sales caused by CARS against the value of those cars. They've also said that only 125,000 of the 690,000 sales were caused by CARS, the rest would have happened anyways.

Now, the repercussions. Auto sales have slumped, and there is a scarcity of used cars. A lot of perfectly good cars were destroyed, and for what?

[JustCommunication]

A lot of perfectly good cars were destroyed, and for what?

An attempt to make the consumer feel better disposed towards the automobile industry, as far as I can tell.

Guess it failed?

[kow_ciller]

$24,000 per taxpayer?

WHERE THE FUCK IS MY FREE CAR?!

[Taowolf]

I'm guessing it was $4500 for the rebate and $19500 for the disposal of the old car?

[TotalDomination]

I'm confused, what was the program all about?

[Stephen]

Originally Posted by TotalDomination

I'm confused, what was the program all about?

An attempt to stimulate the economy by getting people to buy cars, and to remove less fuel efficient cars. A failure on both accounts really. There were even some reports that the MPG calculations were skewed against foreign cars.

[Taowolf]

Originally Posted by Stephen

There were even some reports that the MPG calculations were skewed against foreign cars.

Really? Toyota the most popular pick, though.

[Stephen]

Originally Posted by Taowolf

Really? Toyota the most popular pick, though.

With respect towards the so-called Clunkers.

[Mini-Me]

Originally Posted by TotalDomination

I'm confused, what was the program all about?

It was a US program. I've seen a few used-car dealerships try it around here though.