A Yen for US $ – Cash for Clunkers
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Good to see, true to Obama’s word, that we are “spreading the wealth around.” Good to see that 19.2% of U.S. taxpayer dollars went to Japan (more if we include Honda!):
The Toyota Corolla remained the top-selling vehicle under the Cash for Clunkers program, according to data released Friday by the government.
Asian automakers also continued to increase their share of sales under the government incentive program that offers car buyers rebates on new vehicle purchases of $3,500 or $4,500 in return for turning in older, less fuel efficient vehicles.
Toyota vehicles accounted for 19.2 percent of the 489,269 sales recorded through Friday morning, while General Motors had the second spot at 17.7 percent.
The Honda Civic was the second best-selling vehicle, followed by the Ford Focus in the third spot. The Ford Explorer was the most traded-in vehicle under the program.
Cash for Clunkers is scheduled to expire Monday at 8 p.m. EDT. As of Friday, the program had used up $2 billion of the $3 billion Congress set aside for it.
Of course, Toyota and Honda build some cars in the U.S. (in non-union plants) so I’m sure, somehow, some American workers benefited but this program was a turkey to begin with.
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11:09 PM
How do you count? 19.2%went to Japan?
This is only fair competition as many USA companies make money abroad as well.
kindest
hans
.-= Hans´s last blog ..Day Opening – August 24 =-.
11:39 PM
I said 19.2% went to Japan (Toyota really) and the difference is that companies making money abroad is one thing, the U.S. government shipping taxpayer money abroad is another.