#clunkers
September Sales Rate Lowest in 28 Years?
Automotive News brings glad tidings for auto execs drunk on Clunkers: “September’s light-vehicle sales rate will fall to 8.8 million units, co…
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Update: Details of US Car Scrappage Scheme Emerge
In a follow up to E. Niedermeyer’s previous post, details have emerged about the scheme to give rebates to buyers who trade “clunkers” for new, fuel-efficient vehicles. FT.com (Financial Times) reports that the program will cost taxpayers about $4 billion and will spur, according Brian Johnson, an analyst at Barclays Capital, the sale of 3 million units in the “near term” (whatever that means). With the US’ SAAR projected at approximately 9 million, this is a very optimistic prediction.
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