New-car sales prompted by Cash for Clunkers (aka CARS) certainly blew the roof off industry estimates for the program’s success. In all, 690,114 guzzlers were submitted in exchange for new vehicles. But analysis of the program’s stats point to the difficult road ahead for the domestic auto manufacturers, which are still struggling with flagging sales.
Take a look at the top 10 trade-ins — all are domestics:
1. Ford Explorer 4WD
2. Ford F150 Pickup 2WD
3. Jeep Grand Cherokee 4WD
4. Ford Explorer 2WD
5. Dodge Caravan/Grand Caravan 2WD
6. Jeep Cherokee 4WD
7. Chevrolet Blazer 4WD
8. Chevrolet C1500 Pickup 2WD
9. Ford F150 Pickup 4WD
10. Ford Windstar FWD Van
Now take a look at the top 10 new-vehicle purchases:
1. Toyota Corolla
2. Honda Civic
3. Toyota Camry
4. Ford Focus FWD
5. Hyundai Elantra
6. Nissan Versa
7. Toyota Prius
8. Honda Accord
9. Honda Fit
10. Ford Escape FWD
Only two Ford models among a host of imports. Granted, General Motors accounted for 17.6% marketshare among new-vehicle manufacturers, second only to Toyota (19.4%), according to government data, while Ford captured 14.4% of the market. But the domestic OEMs will have to power up their vehicles’ popularity if they hope to be a dominant force in the market going forward.
