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Last login: Friday, July 31, 2009
The Government gave $1,000,000,000 for this program, with a cash benefit of $4500 per vehicle. That only allows for 222,222 automobiles. According to Wikipedia there was 250,851,833 automobiles in the U.S. in 2006.
So in other words 222222/250,851,833 = 0.0008858
or Cash for Clunkers only allowed for less the .08% of the vehicles on the road. Not a percent, or a tenth of a percent, but eight-one-hundredths of a percent.
You're telling me less then 1 in a 1000 cars has an owner who wants to trade it in, when they're saying most of these consumers would have traded in their car in the next couple years anyway?
Who comes up with this stuff?
July 31, 2009 at 3:06 p.m.
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