As intended, there was a boost in auto sales when the program began on July 1, 2009 and this helped the economy for a brief time as everyone from car manufacturers to dealers were kept busy recycling those gas guzzlers many of us had been driving. Official Cash for Clunkers info advises that processing of claims began on July 24, 2009 some three weeks after the program began. Cash For Cars Sydney
Original plan was one billion dollars for trade ins
The original plan was for a one billion dollar appropriation to be paid out to citizens who traded in their gas guzzler for a safer, cleaner burning, and more fuel efficient vehicle between the dates of July 1, 2009 and August 24, 2009. According to available Cash for Clunkers info that amount was nearly exhausted by the thirtieth of July 2009 and this was due to an extremely high demand. Congress then approved another two billion dollars to aid the successful program.
On the twenty sixth of August 2009 it was reported through Cash for Clunkers info that some 690,114 transactions were reported by dealers for a total of nearly three billion dollars worth of rebates. Toyota apparently sold the most vehicles as they claimed 19.4% of the overall sales on trade in. General Motors was a close second with 17.6% followed by Ford at 14.4%. The average in fuel efficiency accorded to those trade in vehicles amounted to just under sixteen miles per gallon and that, in comparison to the nearly twenty five miles per gallon for those new cars which had been purchased to replace those gas guzzlers proved the program had been extremely successful.