Monday, March 12, 2012

Clunkers by the numbers

The popular "cash-for-clunkers" trade-in program will get the funding approval it needs from the Senate to stay alive, Majority Leader Harry Reid declared Tuesday.

"We'll pass cash-for-clunkers before we leave here," Reid said after Democrats lunched at the White House with President Obama, who has pushed hard for the Senate to go along with the House in adding $2 billion to the program's original $1 billion.

The vote will come before senators head home Friday, Reid said. Because the House already has recessed for August, any change by the Senate would effectively interrupt the rebate program until Congress returns in September.

Buyers of new cars and trucks have swamped formerly deserted auto dealers to claim their rebates -- up to $4,500 when they trade in older models that get significantly worse gas mileage. The older vehicles are then scrapped.

Buyers so far have chosen the most fuel-efficient cars on the market, according to National Highway Traffic Safety Administration data.

Cash for clunkers by the numbers:

- 157,000 transactions with rebates of $664 million were recorded by Tuesday.

- The program's first $1 billion is expected to fund sales of 250,000 vehicles. The additional $2 billion should fund 500,000.

- 83 percent of the vehicles traded in were trucks or SUVs.

- 60 percent of the vehicles purchased were passengers cars.

- The average increase in fuel efficiency so far is 61 percent.

- Illinois ranks sixth among states in the number of cash-for-clunker dollars going to buyers: $2.44 million. It follows No. 1 Michigan ($3.4 million), Ohio ($2.93 million), California ($2.64 million), Minnesota ($2.62 million) and Texas ($2.5 million).

TOP 10 CLUNKERS

MAKE MODEL MPG RANGE CITY/HWY.*

1 Ford Explorer 4WD 13-14/19

2 Ford F150 Pickup 2WD 10-16/11-20

3 Jeep Grand Cherokee 4WD 12-17/12-22

4 Jeep Cherokee 4WD 9-19/12-24

5 Dodge Caravan/Grand Caravan 2WD 11-17/17-24

6 Chevrolet Blazer 4WD 11-14/13-18

7 Ford Explorer 2WD 13-15/20

8 Ford F150 Pickup 4WD 10-14/10-17

9 Chevrolet C1500 Pickup 2WD 9-13/10-18

10 Ford Windstar FWD Van 15-16/22

* mpg based on range of city and highway driving for the model

TOP 10 PURCHASES

MAKE MODEL MPG RANGE CITY/HWY.

1 Ford Focus fwd 22-23/34

2 Toyota Corolla 26/34-35

3 Honda Civic 25-40/34-45

4 Toyota Prius 51/48

5 Toyota Camry 22/32-33

6 Ford Escape FWD 30-34/27-31

7 Hyundai Elantra 23-24/33

8 Dodge Caliber 19-24/25-30

9 Honda Fit 27-28/33-35

10 Chevrolet Cobalt 22-25/30-35

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