Cash By Clunkers
Cash For By Clunkers
Yup, just another well organized, thought through, and completely inept program brought to you by Congress.
That deal you thought that you were getting......well, maybe not, according to Edmonds, the folks who report on the Auto industry prices.
If "Cash For Clunkers" raises the cost of cars, what will "Obamacare" do? Just picture how great "Obamacare" will be....given that's it's going to restructure 1/6th of our economy.
"Cash for Clunkers" Provides Windfall for Some, High Prices for All, According to Edmunds.com
SANTA MONICA, Calif. — August 7, 2009 — Edmunds.com, the premier online resource for automotive information, warns consumers that car prices are climbing as the "Cash for Clunkers" frenzy is influencing the marketplace.
"Since the program launched, we've seen that shoppers are getting less of a discount off sticker price for new cars," notes Senior Analyst Michelle Krebs in her report on Edmunds' AutoObserver.com. "In some cases, they are choosing less expensive trim levels and option packages than had been typical in recent months, but paying more for them."
The chart sets forth comparisons of pricing and discount percentages for each of the five most popular vehicles in recent "Cash for Clunkers" transactions. (Data on other models is available upon request.)
"In truth, this program launched at the worst possible time of the year," opined Edmunds.com CEO Jeremy Anwyl. "The annual summer sell-down typically creates a rush of activity for the industry, and this year that rush came right after automakers cut production in response to the floundering economy. It's a simple case of supply and demand, bolstered by a reduced level of negotiation on the part of excited clunker traders. Add to this the automakers' unseasonable reduction in incentives and the message is clear: if you buy a car this summer, you should expect to pay higher prices."
Full article here....
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