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WASHINGTON - The Cash for Clunkers program took 576,000 trucks off the road and replaced all but 281,000 of them with cars, the government said Wednesday.
The $2.9 billion program, which ended Tuesday night, paid up to $4,500 in rebates for the 685,000 gas-guzzling cars and trucks traded in for the 685,000 fuel-efficient vehicles that were purchased.
More than eight of 10 vehicles traded in were trucks; the purchased vehicles were nearly evenly split between cars and trucks.
But plants that build trucks - and the communities like Fort Wayne that depend on those plants - shouldn't read too much into the lopsided statistics of trucks traded in, GM spokesman John M. McDonald said.
There was a $1,000 differential between the rebate available for a car and a truck, he said.
"Money drives behavior," McDonald said.
The people who purchased the 281,000 trucks sold under Cash for Clunkers really needed a truck, he said. People who traded in their old trucks for cars had more options, he said. And because there was a greater financial incentive to buy cars that get more miles to the gallon than the most fuel-efficient truck, they did.
In all, people traded in 109,400 cars and nearly 576,000 trucks. They purchased 404,000 cars and nearly 281,000 trucks.
"The dollars are what drove that, not a trend in the industry," McDonald said. He it was a temporary distortion in the market.
"The bottom line is the economy needs stimulation. (Cash for Clunkers) by most accounts was the most wildly successful ec stimulus program that the government's done to date. I'm sure the people in Fort Wayne appreciate that because we did sell some trucks," he said.
Hoosier car dealers will ask the federal government to reimburse them for $65.8 million worth of rebates in the Cash for Clunkers program.
"American consumers and workers were the clear winners," Transportation Secretary Ray LaHood said. "Manufacturing plants have added shifts and recalled workers. Moribund showrooms were brought back to life, and consumers bought fuel efficient cars that will save them money and improve the environment."
The most traded-in vehicles were -- Ford Explorer four-wheel drive; Ford F150 Pickup two-wheel drive; Jeep Grand Cherokee four-wheel drive; Ford Explorer two-wheel drive; Dodge Caravan/Grand Caravan two-wheel drive; Jeep Cherokee four-wheel drive; Chevrolet Blazer four-wheel drive; Chevrolet C1500 Pickup two-wheel drive; Ford F150 Pickup four-wheel drive; and Ford Windstar front-wheel drive van.
The top 10 models purchased were -- Toyota Corolla; Honda Civic; Toyota Camry; Ford Focus front-wheel drive; Hyundai Elantra; Nissan Versa; Toyota Prius; Honda Accord; Honda Fit; and Ford Escape front-wheel drive.
