Study: ‘Cash for clunkers’ a success
Last year’s “cash for clunkers” incentives program stoked demand for cars and trucks without pulling sales forward, according to a study by the Maritz Automotive Research Group.
“Our findings not only provide strong evidence that many more vehicles were sold as a direct result of the incentive program than were previously estimated, but they also largely debunk the myth that ‘cash for clunkers’ mortgaged future car and truck sales,” said Dave Fish, vice president, Maritz Automotive Research Group.
“In fact, the program resulted in sales of vehicles to people who don’t normally buy them.”
Previous studies have shown the “cash for clunkers” program created tens of thousands of jobs.
According to a NHTSA report, the program created or saved nearly 60,000 jobs.
The Ann Arbor-based Center for Automotive Research has said 40,200 new jobs were created, including about 11,000 in Michigan and Ohio alone.