So the final tally for the Cash for Clunkers program said this.
690,114 new cars sold. Almost $3,000,000,000 in rebates. 3 Billion. Hmmm...
Now here's a statistic I found interesting. There's a comparison chart in the LA Times business section (which strangely enough, is not included in the online article). It's a comparison between the overall market share of the major car companies in the cash for clunkers program and the share of cars sold in the program.
Of the 10 car manufacturers included in the chart, 3 had a smaller share of the rebate program than of their overall market share. Basically they sold a smaller percentage of the 690,114 cars than the percentage they do of total cars sold outside the program.
Who were the 3 companies?
GM, Ford and Chrysler.
Says a lot about the 3 companies and the American car industry.