MSNBC: how successful is cash for clunkers

MSNBC: how successful is cash for clunkers?

Lou Ann Hammond, CEO, www.carlist.com, talks about cash for clunkers (c4c) on MSNBC with Alex Witt.

Is this good for the dealers? Yes, traffic was up.

Is this driven by C4C or by summer buying? Many people that have old cars would have purchased new older cars because their car is not worth $4,500. With the incentive they could purchase a new car from a dealer.

Are there sales at the Detroit 3? Yes, but at foreign manufacturers as well. Toyota said that 90 percent of their C4C sales were conquests, meaning the customer traded in another manufacturers car.

About the Author: Lou Ann Hammond

Lou Ann Hammond is the CEO of Carlist and Driving the Nation. She is the co-host of Real Wheels Washington Post carchat every Friday morning and is the Automotive, energy correspondent for The John Batchelor Show and a Contributor to Automotive Electronics magazine headquartered in Korea. Hammond is a member of the North American Car and Truck of the Year (NACTOY), Women's World Car of the Year (WWCOTY), and the Concept Car of the Year.