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Saturday, October 31, 2009
White House, Car Site Dispute Clunker Sales
The Kansas City Star
KANSAS CITY, Mo. — A feud has broken out between the Obama administration and a car-buying Web site about the effect of the Cash for Clunkers program on overall car sales.
It began this week when Edmunds.com put out an analysis of the popular summer stimulus program that provided $3,500 or $4,500 in rebates to consumers trading in old gas-guzzlers for new fuel-efficient vehicles.
Nearly 690,000 vehicles were sold in the program, but Edmunds calculated that only 125,000 cars were incremental sales — sales spurred directly by the program. The rest, it said, would have been sold anyway.
Edmunds put the average taxpayer cost for each incremental vehicle sold at $24,000.
Hogwash, responded Mason Phillips on the White House blog. He argued that the program boosted overall auto sales, with about 2.3 million vehicles being sold in July and August.
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