Washington, D.C. – The Toyota Corolla was the most frequently purchased car under the U.S. “Cash for Clunkers” program, which offered rebates of up to US$4,500 for consumers who traded in older vehicles for recycling and purchased new, more fuel-efficient vehicles.
Under the program, which wrapped up on August 25, 2009, there were 690,114 dealer transactions submitted, for a combined $2.87 billion dollars.
In order, the top ten vehicles purchased under the program were the Toyota Corolla, Honda Civic, Toyota Camry, Ford Focus FWD, Hyundai Elantra, Nissan Versa, Toyota Prius, Honda Accord, Honda Fit, and Ford Escape FWD. Toyota held 19.4 per cent of sales under the program, followed by General Motors at 17.6 per cent, and Ford at 14.4 per cent.
The top ten vehicles traded in, in order, were the Ford Explorer 4WD, Ford F-150 2WD, Jeep Grand Cherokee, Ford Explorer 2WD, Dodge Caravan/Grand Caravan, Jeep Cherokee, Chevrolet Blazer 4WD, Chevrolet C1500 Pickup 2WD, Ford F-150 4WD, and Ford Windstar FWD.
Of the trade-ins, 84 per cent were trucks, while 59 per cent of new vehicles purchased were cars. The new vehicles sold had an average fuel efficiency equivalent of 9.6 L/100 km (24 mpg Imp), while vehicles traded in had an average efficiency of 15.2 L/100 km (19 mpg Imp), an improvement of 58 per cent.
Cars purchased under the program were, on average, 19 per cent more fuel-efficient than the combined economy of all new cars currently available, and 59 per cent above the average fuel economy of cars that were traded in.