xcel
07-29-2009, 02:48 PM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg Preliminary results - 69% improvement in FE from junk to new according to online resource. (cleanmpg.com/forums/showthread.php?p=224696)
http://www.cleanmpg.com/photos/data/546/Fusion_059.JPGWayne Gerdes - CleanMPG (cleanmpg.com) - July 29, 2009
Hybrid Fan’s brand new white 2010 Fusion hybrid less than 30 minutes after driving it home. And gone is the old F-150 thanks to C4C :)
An average savings of $750 in fuel per year for the average consumer.
According to a release earlier in the week, early statistics from automotive dealers on the CARS Program, commonly known as Cash for Clunkers, show consumers receiving a 69% mile-per-gallon (mpg) improvement in fuel economy vs. the vehicle they traded in which saves them an average of $750 a year in fuel alone.
According to the site, 79% of clunkers being traded in are SUVs, trucks and vans with over 100,000 miles and most are being replaced with new passenger vehicles. The average age of a trade-in model is almost 13 years old, and the average odometer reading is approximately 138,000 miles. The most popular clunker trades are Chevrolet, Ford and Dodge and 84 percent of the new vehicles purchased are passenger cars.
In the sample, 64% of the government funded credits were for $4500 and 36% for $3500. "Lower priced cars have a better chance of qualifying for the larger $4500 rebate because smaller vehicles typically have better mpg ratings," adds O'Connell. The rare exceptions are hybrids that cost more but often qualify for the $4500 because of their higher mpg ratings. "The best deals for the Cash for Clunkers program are the less expensive vehicles that cost $10,000-$18,000. A list of these types of vehicles is available on www.CashForClunkersInformation.org."
An unexpected trend is the sales to consumers who do not qualify for the government program. Chip King, from www.JerrysToyota.com, says that "over half the consumers who initially inquired about the program did not qualify but many of them bought a car anyway due to the unprecedented manufacturer and dealer incentive programs, "explains King. "We are having our best used vehicles sales month all year because consumers who don't qualify for the program are buying certified pre-owned cars," said Brian Benstock from www.ParagonCars.com. "For every vehicle sold to a consumer who is eligible for the government program we have sold another vehicle to consumers who did not qualify."
We have included sample statistics from three dealer groups that have stores in major markets such as Florida, Ohio, Georgia, New York and Washington, DC. "So far all of our sales have been conquest sales," said Rick Case, the owner of one of the largest privately owned import dealer groups in the country.
Rick Case Automotive, Sheehy Automotive and Paragon Automotive Group all announced that they would help consumers starting July 1(st), which was when the law said customers would be eligible, and was 23 days before the government released the final rules. As a result, these dealers have a month of historical sales data they agreed to share for the transactions that have occurred in their stores located throughout the country. Below are some of the stats used in the sample:
Rick Case Automotive: Statistics from clunker transactions in Florida, Georgia and Ohio:
More than 70% of the clunkers were domestics (all Ford or Chevy trade ins)
71% of the clunkers were SUV's
93% had over 100k miles
71% qualified for the $4500 (because SUV's only need a 5 mpg improvement to get the full $4500 rebate and 71% of clunkers were SUV's)
The average clunker trade in gets 17 mpg
The average new vehicle gets 25 mpg
The average improvement is 8 mpg
Paragon Automotive: Statistics from transactions in their New York Import franchise stores):
Clunker Trade ins: 69% Domestic; 31% Import
74% of clunkers were SUV (30%), Vans (35%) or Trucks (9%)
Vans: 35%
SUV: 30%
Trucks: 9%
Passenger Cars: 26%
$3500 Credit: 43%
$4500 Credit: 57%
Avg. mpg for clunker: 16
Avg. mpg for new car: 27
Avg. mpg improvement: 9
Sheehy Automotive: Statistics from transactions in their 17 locations in Washington DC, Virginia, Maryland and Baltimore:
76% domestic trades, 24% import
79% SUV, pickups and minivans
44% SUVs
23% pickups
12% minivans
21% cars
Average mileage 138,000
A new member HybridFan (Brian) just took advantage of the program to take his F-150 off the road for a brand new 2010 Ford Fusion. ALS (Al) is in the process of removing an 80’s model Volvo for a 2010 Prius-III. We know the incentives work but let us hope we keep hearing of those kinds of success stories from our membership and the general public as a whole.
A lot of information from a site that posted information before the C4C program officially went into effect. I can only hope the results reported are as promising as our own membership’s purchase experiences.
http://www.cleanmpg.com/photos/data/546/Fusion_059.JPGWayne Gerdes - CleanMPG (cleanmpg.com) - July 29, 2009
Hybrid Fan’s brand new white 2010 Fusion hybrid less than 30 minutes after driving it home. And gone is the old F-150 thanks to C4C :)
An average savings of $750 in fuel per year for the average consumer.
According to a release earlier in the week, early statistics from automotive dealers on the CARS Program, commonly known as Cash for Clunkers, show consumers receiving a 69% mile-per-gallon (mpg) improvement in fuel economy vs. the vehicle they traded in which saves them an average of $750 a year in fuel alone.
According to the site, 79% of clunkers being traded in are SUVs, trucks and vans with over 100,000 miles and most are being replaced with new passenger vehicles. The average age of a trade-in model is almost 13 years old, and the average odometer reading is approximately 138,000 miles. The most popular clunker trades are Chevrolet, Ford and Dodge and 84 percent of the new vehicles purchased are passenger cars.
In the sample, 64% of the government funded credits were for $4500 and 36% for $3500. "Lower priced cars have a better chance of qualifying for the larger $4500 rebate because smaller vehicles typically have better mpg ratings," adds O'Connell. The rare exceptions are hybrids that cost more but often qualify for the $4500 because of their higher mpg ratings. "The best deals for the Cash for Clunkers program are the less expensive vehicles that cost $10,000-$18,000. A list of these types of vehicles is available on www.CashForClunkersInformation.org."
An unexpected trend is the sales to consumers who do not qualify for the government program. Chip King, from www.JerrysToyota.com, says that "over half the consumers who initially inquired about the program did not qualify but many of them bought a car anyway due to the unprecedented manufacturer and dealer incentive programs, "explains King. "We are having our best used vehicles sales month all year because consumers who don't qualify for the program are buying certified pre-owned cars," said Brian Benstock from www.ParagonCars.com. "For every vehicle sold to a consumer who is eligible for the government program we have sold another vehicle to consumers who did not qualify."
We have included sample statistics from three dealer groups that have stores in major markets such as Florida, Ohio, Georgia, New York and Washington, DC. "So far all of our sales have been conquest sales," said Rick Case, the owner of one of the largest privately owned import dealer groups in the country.
Rick Case Automotive, Sheehy Automotive and Paragon Automotive Group all announced that they would help consumers starting July 1(st), which was when the law said customers would be eligible, and was 23 days before the government released the final rules. As a result, these dealers have a month of historical sales data they agreed to share for the transactions that have occurred in their stores located throughout the country. Below are some of the stats used in the sample:
Rick Case Automotive: Statistics from clunker transactions in Florida, Georgia and Ohio:
More than 70% of the clunkers were domestics (all Ford or Chevy trade ins)
71% of the clunkers were SUV's
93% had over 100k miles
71% qualified for the $4500 (because SUV's only need a 5 mpg improvement to get the full $4500 rebate and 71% of clunkers were SUV's)
The average clunker trade in gets 17 mpg
The average new vehicle gets 25 mpg
The average improvement is 8 mpg
Paragon Automotive: Statistics from transactions in their New York Import franchise stores):
Clunker Trade ins: 69% Domestic; 31% Import
74% of clunkers were SUV (30%), Vans (35%) or Trucks (9%)
Vans: 35%
SUV: 30%
Trucks: 9%
Passenger Cars: 26%
$3500 Credit: 43%
$4500 Credit: 57%
Avg. mpg for clunker: 16
Avg. mpg for new car: 27
Avg. mpg improvement: 9
Sheehy Automotive: Statistics from transactions in their 17 locations in Washington DC, Virginia, Maryland and Baltimore:
76% domestic trades, 24% import
79% SUV, pickups and minivans
44% SUVs
23% pickups
12% minivans
21% cars
Average mileage 138,000
A new member HybridFan (Brian) just took advantage of the program to take his F-150 off the road for a brand new 2010 Ford Fusion. ALS (Al) is in the process of removing an 80’s model Volvo for a 2010 Prius-III. We know the incentives work but let us hope we keep hearing of those kinds of success stories from our membership and the general public as a whole.
A lot of information from a site that posted information before the C4C program officially went into effect. I can only hope the results reported are as promising as our own membership’s purchase experiences.
