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In the aftermath of the summer sales boom fueled by the US Cash for Clunkers program, September 2009 light duty vehicles sales dropped back to pre-incentive lows. General Motors dealers in the United States delivered 155,679 light duty vehicles in September, down 45% year-on-year. Reported hybrid sales by month. General Motors.
Buoyed by the US government’s CARS (“Cash for Clunkers”) program, US auto sales slowed their decline in the US in July, dropping on 12.1% GM dealers delivered 189,443 total vehicles in July, a 19.4% Monthly new vehicle market share for hybrids. Click to enlarge. Passenger car sales dropped 10.6% to 443, 297 units.
Paul Taylor, Chief Economist for the National Automotive Dealers Association, had the following observations: At $4/gallon gas people looked at more economical versions of the same vehicle rather than going down in vehicle size—they continue to buy cars that meet their needs. Cash for Clunkers. —Bill Cooke.
Well, America’s auto industry delivered over 100,000. It helps that the auto industry will be building more efficient new vehicles. We’ll add targeted incentives to jump-start this successor to the $4,500 “Cash for Clunkers” program. It’s a 21st-century equivalent of what we did in 1942. We just had to do it.
According to a report from Automotive News , dealers are getting worked up about the prospect of not receiving money swiftly enough — mimicking some of the hardships endured during the Cash-for-Clunkers period. Since some of that isn’t settled yet, dealers are getting anxious. Car dealers are asset rich and cash poor.
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