Originally Posted by wrigley
I know...........I know.....I'm mad at myself for second guessing myself!
I heard that cash for clunkers deal is 1 billion dollars and 250,000 cars sold under the program will eat up that money! Fox news reported that even in today's economic maylay, 1,000 new cars are a day are still being sold. I have no idea how many of them are being sold under the "cash for clunkers" program, but do the math and you can see that the money for the program will be used up quickly!
I'm curious what math you are using?
I'm on my first cup o' java, so maybe mine is off, but I see it thise way:
1,000 cars a day for a year = 365,000 cars sold.
The $1B/ average $4,000 from the govt equals the 250,000 cars you mention.
So I can't imagine that 250,000 of the 365,000 cars (68%) will be sold under the clunkers bill. You need to have a qualifying car, you need to be in the market for new....
Ah, here's the problem:
Auto Sales - Markets Data Center - WSJ.com
New car sales are more like 15,000/day, and almost as many light trucks....
But still, 1 of 10, 1 of 20 meeting the CFC requirements? I dunno.