News

Many Cash for Clunkers Buyers Weren’t in the Market

Three in ten cash for clunkers buyers surveyed weren’t even in the market to buy a new car before the program started.

According to a cars.com survey of 1056 cash for clunkers participants, the program served its purpose by pushing consumers to purchase a vehicle sooner than later. Many polled either were waiting to buy at a later time when the deals emerged, or weren’t even shopping for a car but simply couldn’t resist the rebate offer.

The program boosted July and August sales numbers to the highest we’ve seen this year, though sales are still down considerably for 2009 as a whole.

Eighty percent of study participants were satisfied with the way the program operated and 55-percent wished the program had continued. The satisfaction unfortunately doesn’t apply to most dealers, many of whom are still awaiting reimbursement.

Source: Automotive News

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