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After the “clunker” was traded in, its engine was destroyed. 677,842 clunkers were traded in between 1 July 2009 and 24 August 2009 as part of the program, which issued $2.85 billion in vouchers; NHTSA concluded that the new vehicles purchased under the program averaged 24.9 miles per gallon (9.4 l/100 km), compared to the 15.8
Two factors are driving the recovery, notably low automotive inventory that will result in new car growth next year, combined with stimulus packages designed to benefit the ailing car sector while favoring the switch to electric and hybrid cars, which are typically more expensive than equivalent internal combustion-driven models.
PPS Should time permit for further study, Michelle, here's a distinct California Car Initiative (CALCars) info article on how important it is to get Arizona plugged in and now for the economic well being of Arizona, under the Stimulus Bill! In fact, "Cash for Clunkers" should also be expanded to "Cash for Conversions!"
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