Cash for Clunkers Success

[Danzig]

http://www.msnbc.msn.com/id/32398464/ns/politics/


Just how many consumers used the federal rebates to buy these larger, not-so-green vehicles is unclear. The Obama administration has declined so far to release detailed records of purchases under the program being compiled by the Transportation Department, listing every clunker deal requesting rebates.

Buyers must have trade-ins that qualify for such deals — comparable vehicle types with at least 2 mpg less in fuel efficiency than the new purchase. And the new vehicle can't cost more than $45,000.

Even a high-end 2009 BMW X3 crossover utility vehicle, priced at just under $40,000, counts as a gas saver eligible under the government program, with 19 mpg.



"The Cash for Clunkers is definitely generating traffic for Cadillac and Hummer," Ledesma said.


i think it's too soon to say that a program costing 3 billion is a success. i also think the mpg requirements should have been far more stringent than just 2 mpg earned.