TodayOctober 23, 2021

MSNBC: how successful is cash for clunkers?

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.

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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 founding member of the Women's World Car of the Year #WWCOTY, and board member of the Women in Automotive.