Edmunds.com analyst: Taxpayers Paid $24,000 per clunker!

October 28, 2009 · Posted in Commentary 

According to a press release by Edmunds.com, the true cost to the taxpayers for the Cash for Clunkers program was $24,000 per vehicle sold under the program. 

Almost 690,000 vehicles were sold during the Cash for Clunkers program, but according to Edmunds.com analysts, only about 125,000 sales were incremental.  The other 565,000 vehicle sales would have happened without the program in place.  A total of $3 billion was allotted for the Cash for Clunkers rebates.

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