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10-30-2009, 01:09 PM | #1 |
それを吸ってください
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Cash for Clunkers: Press Release
From edmunds.com
Contact: Jeannine Fallon/Chintan Talati Edmunds.com Corporate Communications www.Edmunds.com Media Hotline: 310-309-4900 pr@edmunds.com Cash for Clunkers Results Finally In: Taxpayers Paid $24,000 per Vehicle Sold, Reports Edmunds.com SANTA MONICA, Calif. — October 28, 2009 — Edmunds.com, the premier resource for online automotive information, has determined that Cash for Clunkers cost taxpayers $24,000 per vehicle sold. Nearly 690,000 vehicles were sold during the Cash for Clunkers program, officially known as CARS, but Edmunds.com analysts calculated that only 125,000 of the sales were incremental. The rest of the sales would have happened anyway, regardless of the existence of the program. Ironically, the average transaction price for a new vehicle in August 2009 was only $26,915 minus an average cash rebate of $1,667. "This analysis is valuable for two reasons," explained Edmunds.com CEO Jeremy Anwyl. "First, it can form the basis for a complete assessment of the program's impact and costs. Second—and more important—it can help us to understand the true state of auto sales and the economy. For example, October sales are up, but without Cash for Clunkers, sales would have been even better. This suggests that the industry's recovery is gaining momentum." The chart below sets forth actual SAAR (Seasonally Adjusted Annual Rate) compared to Edmunds.com's forecasted rate if the program had never been implemented. Actual (or Forecast) If no Cash for Clunkers Difference Sales Volume Jan '09 9.59 9.59 n/a 654,922 Feb '09 9.14 9.14 n/a 687,182 Mar '09 9.69 9.69 n/a 855,146 April '09 9.20 9.20 n/a 817,096 May '09 9.85 9.85 n/a 923,141 Jun '09 9.67 9.80 -0.13 857,447 Jul '09 11.22 10.11 1.11 995,216 Aug '09 14.06 10.45 3.61 1,258,747 Sep '09 9.19 10.63 -1.44 744,367 Oct '09 10.40 10.89 -0.49 n/a Nov '09 10.40 10.82 -0.42 n/a Dec '09 10.61 10.85 -0.24 n/a "Our research indicates that without the Cash for Clunkers program, many customers would not have traded in an old vehicle when making a new purchase," Edmunds.com Senior Analyst David Tompkins, PhD told AutoObserver.com. "That may give some credence to the environmental claims, but unfortunately the economic claims have been rendered quite weak." To conduct the analysis, the Edmunds.com team of PhDs and statisticians examined the sales trend for luxury vehicles and others not included in Cash for Clunkers, and applied the historic relationship of those vehicles to total SAAR to make informed estimates. These estimates were independently verified through careful examination of sales patterns reflected by transaction data. Once the numbers were determined, Edmunds.com's analysts divided three billion dollars by 125,000 vehicles to arrive at the average $24,000 per vehicle. ........ |
10-30-2009, 10:33 PM | #2 |
Drives: 07 Yaris S Sedan 5-Speed Join Date: Oct 2008
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Just like everything the government does, it was an utter disaster.
The government just loves creating bubbles and then we have to deal with the consequences when they burst. Now, car sales are weak again. It did no good. |
10-30-2009, 11:44 PM | #3 |
Im happy I got my dad to switch. His beat up old SUV, leaking oil from everywhere. Weak sounding. Crack in a cylinder or something that caused misfires.
Bad timing belt, bad gas milage. Bad suspension. Leaking oil after driving on the highway right onto the exhaust causing smoke to come out. I was SO HAPPY when we traded that POS in for a brand new car. No more problems, and for a car that was probably $1000 or less and needed $2,000 in repairs, we got lucky and we got the $4,500 for it(or was that $4000) lol. Either way, great deal and very happy at the end. |
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10-31-2009, 12:16 AM | #4 |
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Bullshit math meant to rile the masses.
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10-31-2009, 12:47 AM | #5 |
Learn to Relax
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This is scary, frightening, horrible. It means our govt is at a 7% efficiency for running a program to help the economy. For every dollar boost to the economy, the govt has to spend $1500. OMG, WTF!
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10-31-2009, 07:07 AM | #6 | |
Drives: 07 Yaris S Sedan 5-Speed Join Date: Oct 2008
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Quote:
Yet they say they'll lower the cost of health care. And people buy into it. |
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10-31-2009, 07:12 AM | #7 | |
Drives: 07 Yaris S Sedan 5-Speed Join Date: Oct 2008
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Quote:
Nice. |
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10-31-2009, 09:05 AM | #8 |
Drives: 09 3Dr Manual Join Date: Jul 2009
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But the "Press Release" reads like an infomercial. lol "Edmunds.com Senior Analyst David Tompkins, PhD told AutoObserver.com..." and "To conduct the analysis, the Edmunds.com team of PhDs and statisticians" should have tipped you off! A respected source wouldn't have to tell you how awesomely awesome they are.
So ya think Edmunds.com has seen an uptick in traffic since "reporting" this? I think I'll start a website later today and claim that clunkers cost $4501 per car. My credentials are that I drive a car and therefore I am an expert in cars.
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Just put the pedal down and let the devil take the hindquarters. |
10-31-2009, 09:22 AM | #9 |
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Btw, this is just anecdotal and therefore not worth much but I drive for a living and I've had many occasions sitting at red lights or parked somewhere to check out the various vehicles sitting in auto dealers CforC lots. It's easy to spot them because the dealers write clunkers or CforC or something on the windshields to distinguish them. Of course I can't tell you the % but my guess is that at least half came from households that were probably not in the market for a new car. By that I mean that it's probably rare for someone to go from a beat up old clunker to a new vehicle. Just my guess, but I see that person driving the beater til it dies and buying their next beater used, extremely used.
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Just put the pedal down and let the devil take the hindquarters. |
10-31-2009, 11:40 AM | #10 |
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10-31-2009, 12:47 PM | #11 |
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Yeah, I've had fun walking through the rows of C4C cars looking at what was turned in. Most of them really were clunkers. It's only been a few months, I'm waiting to see the flood of repos on the new cars when these people can't all make there payments on time and the bank wants it back.
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10-31-2009, 08:50 PM | #12 | |
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Quote:
Is it so hard to understand that people must work and earn their own money to legitimately purchase goods? The only entity that should offer incentives is the one selling a good or service. Not a 3rd party. If GM or Ford or whoever wants to slash $4500 off a new car, fine. But the government taking money from one sector of the population and redistributing it to another sector in order to purchase something they couldn't otherwise afford is so wrong in so many ways. |
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11-01-2009, 07:54 AM | #13 |
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Soon after Edmunds released this report, the White House started attacking Edmunds.
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11-02-2009, 10:03 AM | #14 | |
それを吸ってください
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Quote:
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11-02-2009, 01:31 PM | #15 | |
Banned
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Quote:
Statisticians are a joke, and nothing they say should ever be taken seriously. 60% of the time, they are right every time. |
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11-02-2009, 02:03 PM | #16 |
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I would agree with that.
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11-02-2009, 02:48 PM | #17 |
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The government sucks at everything they do.
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