Cash for Clunkers Winds Up Costing $2.9 Billion; Toyota the Big Winner
The final numbers are in for the federal government's Cash for Clunkers program: Some 690,114 applications were taken for a total cost of $2.9 billion, according to the Transportation Department.
Here are the Top 10 vehicles purchased in the program, which gave new car buyers a $4,500 taxpayer-supplied credit toward purchase. The takeaway is pretty stark: Buyers traded in American vehicles for Japanese vehicles.
1. Toyota Corolla
2. Honda Civic
3. Toyota Camry
4. Ford Focus FWD
5. Hyundai Elantra
6. Nissan Versa
7. Toyota Prius
8. Honda Accord
9. Honda Fit
10. Ford Escape FWD
Here are Top 10 vehicles traded in under the program:
1. Ford Explorer 4WD
2. Ford F150 Pickup 2WD
3. Jeep Grand Cherokee 4WD
4. Ford Explorer 2WD
5. Dodge Caravan/Grand Caravan 2WD
6. Jeep Cherokee 4WD
7. Chevrolet Blazer 4WD
8. Chevrolet C1500 Pickup 2WD
9. Ford F150 Pickup 4WD
10. Ford Windstar FWD Van
The story on mileage:
Average new-vehicle mileage: 24.9 miles per gallon.
Average clunker mileage: 15.8 miles per gallon.
Increase: 9.1 miles per gallon.
-- Frank Ahrens
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August 26, 2009; 12:25 PM ET
Categories: The Ticker | Tags: cash for clunkers
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