All Entries Tagged With: "clunkers"

Cash For Clunkers A Gift For Honda and Toyota

When the “Cash for Clunkers” program (a.k.a. CARS) was signed into law 2 months ago, there were a lot of different advantages pitched at the American taxpayer:

• CARS will help the environment by getting rid of polluting old vehicles
• CARS will help the economy
• CARS will help the auto industry
• CARS will help the domestic automakers earn a profit

While we can’t speak to the environmental, economic, or overall auto industry benefits, we CAN speak to the idea that the CARS program helped domestic automakers: For 3 out of 3 domestic manufacturers, the answer is NO.

According to a recent report from IBISWorld, an independent company that analyzes the auto industry, the domestic manufacturers took less than there fair share of the cash for clunkers dollars.

Here’s the data: