From the November (not yet online) issue of Automobile Magazine, we learn the hard numbers from this summer’s Cash-for-Clunkers program.
1: Rank of the Ford Explorer as the most-traded-in clunker.
1: Rank of the Toyota Corolla as the most-often-purchased new car.
$2.878 billion: total cash dispensed
15.8: average mpg rating of the clunkers traded in
24.9: average mpg rating of the cars sold under the program
28: days’ supply of Chrysler Corp inventory at the program’s end (typical inventory is 60 days)
55: days the program was in effect
$4,170: average clunker rebate
690,114: total number of cash-for-clunkers transactions