ALS
10-04-2009, 07:59 AM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg Auto Sales Plummet as Some Economists Question Program's Effectiveness (http://www.washingtonpost.com/wp-dyn/content/article/2009/10/01/AR2009100103573.html?wprss=rss_nation)
http://www.cleanmpg.com/photos/data/501/2009_Ford_Focus.jpgPeter Whoriskey - WASHINGTONPOST (http://www.washingtonpost.com) - October 4 2009
And this wasn't expected ? --Ed.
After the shopping binge inspired by the government's "Cash for Clunkers" incentive program ended, U.S. auto sales plunged in September and the industry sunk back to the depths from which it started, figures released Thursday showed.
The reports of monthly sales numbers confirmed predictions that some of the spectacular gains of August had merely been achieved by moving up sales that would have happened in September.
The results raised doubts from some economists about the effectiveness of the $3 billion federal program as a stimulus.
General Motors' sales fell 45 percent compared with a year ago, and Chrysler's dropped 42 percent. Sales at Ford did comparatively better, declining just 5 percent. Compared with August, however, Ford's sales in September plummeted 37 percent, slightly more than the other two.
Overall, the rate of U.S. sales, which had been climbing since February, returned roughly to their February level for an annualized rate of 9.2 million vehicles, according to figures from Edmunds.com.
Alan Blinder, a Princeton professor who was among the first to push an auto sales incentive program in the United States, doubted it provided much stimulus, in large part because it was in effect for only a month. ... http://www.washingtonpost.com/wp-dyn/content/article/2009/10/01/AR2009100103573.html?wprss=rss_nation
http://www.cleanmpg.com/photos/data/501/2009_Ford_Focus.jpgPeter Whoriskey - WASHINGTONPOST (http://www.washingtonpost.com) - October 4 2009
And this wasn't expected ? --Ed.
After the shopping binge inspired by the government's "Cash for Clunkers" incentive program ended, U.S. auto sales plunged in September and the industry sunk back to the depths from which it started, figures released Thursday showed.
The reports of monthly sales numbers confirmed predictions that some of the spectacular gains of August had merely been achieved by moving up sales that would have happened in September.
The results raised doubts from some economists about the effectiveness of the $3 billion federal program as a stimulus.
General Motors' sales fell 45 percent compared with a year ago, and Chrysler's dropped 42 percent. Sales at Ford did comparatively better, declining just 5 percent. Compared with August, however, Ford's sales in September plummeted 37 percent, slightly more than the other two.
Overall, the rate of U.S. sales, which had been climbing since February, returned roughly to their February level for an annualized rate of 9.2 million vehicles, according to figures from Edmunds.com.
Alan Blinder, a Princeton professor who was among the first to push an auto sales incentive program in the United States, doubted it provided much stimulus, in large part because it was in effect for only a month. ... http://www.washingtonpost.com/wp-dyn/content/article/2009/10/01/AR2009100103573.html?wprss=rss_nation