Graph of the Day for March 23, 2010

"I want to thank leaders in the House of Representatives for working quickly and in a bipartisan way to pass legislation that will use Recovery Act funds to keep ‘Cash for Clunkers' going.  This program has been an overwhelming success, allowing consumers to trade in their less fuel efficient cars for a credit to buy more fuel efficient new models. It has given consumers a much needed break, provided the American auto industry an important boost, and is achieving environmental benefits well beyond what was originally anticipated."  President Obama.

Car Sales ($millions) Reported by Dealers

Source:  News N Economics.

Hoven's Index for March 22, 2010

Cost to taxpayers for each extra car sold because of Cash for Clunkers:  $20,000

Number of clunkers turned in (and taken out of the market):  677,081

Price increase for used cars since CfC:  13.7%

Change in car sales from July 2009 to February 2010:  -0.6% 

Source:  News N Economics.

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