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09:00PM (15 mins delay)
Nov 05, 2009 - 1:50 AM EST
Edmunds.com economists have come out with an evaluation of the Cash for Clunkers programs that states only an additional 125,000 vehicles were sold at a cost of $24,000 per incremental vehicle.
To arrive at this number Edmonds’ economists made forecasts of sales with and without Cash for Clunkers. While the reasons for doing this analysis are unclear (their conclusion hurts the chances of the auto industry getting additional stimulus) it is clear that the forecasts they made are either too high or too low.
Source: Seeking Alpha (Nov 05, 2009 - 1:50 AM EST)
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