Your Mileage May Vary, and Other Clunker Bumps
by Vera H-C ChanJul 28, 2009
The Cash for Clunkers swap is underway, making auto recyclers "leery" and aggravating some clunker would-be buyers. At least dealers should be happy.
The federal program began with the greenest of intentions. Critics, including the original senators who proposed the idea, have decried the stripped-down version that got approved. Scrap dealers, for their part, don't find much sense in the requirement to destroy perfectly good engines. (That's to prevent scammers from returning clunkers to the road.)
And, in a classic case of the left hand slapping down the right hand, the Environmental Protection Agency's last-minute changes of vehicles' fuel economy got the National Highway Traffic Safety Administration's project off to a clunky July 24 start. People have been tracking the fine print ("cash for clunkers details”) to see if their ol’ jalopy qualifies, but those ready to dump their formerly eligible cars are experiencing some roadster rage.
Overall, however, consumers have hankered after this program since March (when "cash for clunker" searches started taking off on Yahoo!). Not surprisingly, searches for many types of models are up.
With only a billion to spare for this program, which automakers will clear their lots first? This Search ranking from the past 7 days might give some clues:
1. Chrysler Cash for Clunkers
2. Ford Cash for Clunkers
3. GM Cash for Clunkers
4. Dodge Cash for Clunkers
5. Toyota Cash for Clunkers
True, the above queries could mean, for instance, that people want to unload their Chryslers, but drivers may also be warming to the manufacturer's double incentive (additional $3500-$4500 rebates or zero percent financing on top of the federal moneys). Savvy consumers know about the “double cash for clunkers.”
Incidentally, Ford’s second-place status could be recognition for its independent nature: A Rasmussen poll said buyers respect Ford for abstaining from any bailout money, and 46% claimed they’d shop there over GM and Chrysler.
As for what cars might be on the roads in the next few weeks, some models zooming through the Search box:
Most Searched Model: Honda Civic
A Few of the Fastest Moving Models: 2009 Ford Focus, Chrysler Jeep, 2010 Dodge Charger, 2010 Honda Insight
Leading Hybrids: Ford Escape Hybrid, Ford Fusion Hybrid, Honda Civic Hybrid
