Cash for Clunkers Program

[glatt]

Do you have to have everything entered onto the website today, or just have the deals done today and you can enter the the info on the website later in the week?

[classicman]

Japanese, Koreans gain most from cash for clunkers

WASHINGTON (Reuters) - Japanese and South Korean automakers registered the biggest market share gains in the U.S. government's "cash for clunkers" program that ended this week with bankruptcy related inventory shortages hurting General Motors Co GM.UL and Chrysler.

Toyota Motor Corp (7203.T) Honda Motor Co Ltd (7267.T), Nissan Motor Co Ltd (7201.T), Hyundai Motor Co (005380.KS) capitalized on the program's goal of pushing consumers away from gas guzzling sport utilities and pickups, to more efficient cars and trucks, preliminary sales figures showed on Wednesday.

Overseas manufacturers dominate in car sales, while U.S. companies have been stronger in the light truck segment. Cars outsold trucks 2-1 under the "clunker" initiative.

Ford Motor Co (F.N) was the only domestic manufacturer to hold its own in market share compared with its performance so far this year, while GM slipped and Chrysler stumbled noticeably.

GM spokesman Greg Martin said the company, which slowed production significantly during the spring and its early summer bankruptcy, recorded brisk sales of Malibu, Cobalt and other car models in the first weeks of the program.

"We were running thin going into the summer to begin with and, as the program went on, inventory levels play(ed) a part," Martin said.

Ford was the only domestic manufacturer with top-selling models in the "clunkers" program.

[monster]

I read that the progeam came in slightly under the $3B budget.

[glatt]

Maybe this will help the US automakers to realize that they should offer some low gas mileage vehicles.

[lumberjim]

Originally Posted by glatt

Maybe this will help the US automakers to realize that they should offer some low gas mileage vehicles.

I think what would work better would be to inflate the invoice values and give big rebates. It helps with the financing.

[ZenGum]

Originally Posted by lumberjim

I think what would work better would be to inflate the invoice values and give big rebates. It helps with the financing.

Oh you naughty, naughty boy. Just you wait until TW gets home and finds out about all these money games.

[TheMercenary]

Originally Posted by glatt

Maybe this will help the US automakers to realize that they should offer some low gas mileage vehicles.

We are in the market to replace my daughters 09 Toyota Corolla. There is not a single 09 left on any lot in a 150 miles of us, every one of them was sold in the last month in the CfC program.

[classicman]

Thats a BIG maybe.

[monster]

Non-American car companies employ Americans too.

[classicman]

You are correct Mon - but recall at the beginning it Ford was no 1. When things ended there wasn't an American company near the top.

[xoxoxoBruce]

Toyota Motor Corp. led the industry with 19.4 percent of new sales, followed by General Motors Co. with 17.6 percent and Ford Motor Co. with 14.4 percent

[classicman]

Thanks Bruce. I believe your number is a % of total sold thru the program vs. a marketshare comparison.

Ford Motor Co (F.N) was the only domestic manufacturer to hold its own in market share compared with its performance so far this year, while GM slipped and Chrysler stumbled noticeably.

[xoxoxoBruce]

A million people will have a million reasons for buying what they buy. Under the CforC program, they had to follow someone(Government) else's reasons in order to qualify. Of course the main one being a sizable increase in mileage.
That's why the skewed change in market share. But even with the CforC rules, the "US Big 3" sold 39% to 41% for the "Jap Big 3".

[TheMercenary]

I thought this was funny.

http://www.gocomics.com/closetohome/2009/08/31

[monster]

Someone had to...