August 06, 2009

Stimulus For Foreign Auto Makers

Otherwise known as Cash for Clunkers.

There is a reason Obama won't release the list of who's profiting most from the cash for clunkers deal, because it's the foreign auto makers.

Top 10 most bought cars in Cash for Clunkers

The Toyota Corolla has topped the Ford Focus as the most-purchased vehicle under the "cash for clunkers" program.

The Focus is now second, the Department of Transportation announced Wednesday, followed by the Honda Civic, Toyota Prius and Toyota Camry in the top five. Rounding out the top 10 are Hyundai Elantra, Ford Escape (Front Wheel Drive), Dodge Caliber, Honda Fit and Chevrolet Cobalt.

So that is 6 of the top 10 for the foreigners and 4 for the domestics.

Obama is also claiming that fuel efficiency has gone up 60% in America, it's just a small lie

The average fuel economy of new purchases is 25.3 miles per gallon, while the trade-ins average 15.8 mpg -- a 61 percent increase.

That is for the cars traded in, not for America as a whole.

And of course Reid is claiming it's creating jobs ...

Reid said the program "creates jobs, helps our manufacturing base ... it's really been stimulative."

The program has only sold 300,000 cars, how many of those were already planned buys even before the cash for clunkers was annoucned.

And 300,000 spread over 6 or 7 manufacturers isn't enough cars to even cause enough of a bump for somebody at any one company to go "gee maybe we should raise production. And even if they did raise production, they are not going to hire people for the production raise, all they would do is speed the line up a bit to produce more.

Harry Reid is full of shit.

Posted by Quality Weenie at August 6, 2009 08:37 AM

That makes me sick! And what are the most turned in? I hear my Jeep is #2 or 3, but I haven't seen the numbers yet.


Posted by: pam at August 6, 2009 10:19 AM

I'm curios about a couple of things. The first is how many of these "clunkers" are perfectly good used cars that are perfect for the teenager's first car ( you want something big enough to keep them alive if they do something teenlike) or for the working poor who cannot afford a new car.

My second question, how much energy to it take to scrap the old car and build the new? I'm no scientist but it seems to me that we are getting a net loss out of this and the only ones benefiting are the same people who donated big to the Obama campaign.

Posted by: Peter at August 6, 2009 03:30 PM

I hear the sodium silicate industry is booming:

Posted by: Harvey at August 9, 2009 07:08 PM