Archive for the ‘cash for clunkers’ Category

Although this summer's Cash for Clunkers (CARS) program provided the right kind of push for some owners to replace their guzzling jalopies with new cars, it's probably not so surprising that new-vehicle buyers plan to hold on to their vehicles longer than ever before. So-called "rapid replacers" have backed off on plans to get what's hot almost every year, while a growing number of buyers are keeping vehicles for six years or more. Other families hobble along with second or third vehicles that have well over 100,000 miles.

According to AutoPacific's 2009 New Vehicle Satisfaction survey, conducted this spring, about 59 percent of recent...

According to the Manheim Used Vehicle Value Index, used car prices hit an all-time high in September, based on sales values and trade-in values for vehicles across the U.S. The rise is due in part to Cash for Clunkers, which shrank used car inventories. However, Manheim also attributes the spike to car rental companies, which have held onto vehicles instead of sending them to the used lots. There is some good news though: analysts suggest that used car prices have likely peaked. So if you're looking to trade in, you might want to get while the getting is good. [KickingTires]

Chalk it all up to Cash For Clunkers: The average gas mileage of new cars and light trucks sold during August reached a record high of 23 miles per gallon, up 8 percent over the 21.2 mpg in August 2008. The 23-mpg level equals the highest recorded average, back in August 2007, when gasoline neared its peak prices of $4 a gallon or more.

As noted by our sister site GreenCarReports.com, the data comes from trade journal Ward's Automotive News, which calculates its Fuel-Economy Index using reported U.S. sales of cars and light trucks, the engine options chosen, and EPA fuel economy ratings.

Toyota had the best overall average, at 26.9 mpg. With...