MSNBC Cash for Clunkers
Lou Ann Hammond, the 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 manufacturer’s car.
