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Old 09-20-2009, 06:28 PM
 
Location: US
1,193 posts, read 3,842,192 times
Reputation: 831

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Here's to shortsightedness!

Used cars scarce in Montgomery - Columbian.com (http://www.columbian.com/article/20090920/APF/909201403 - broken link)

Now instead of some of the big auto dealerships going out of business we'll just toss the smaller fish in the fryer and make life more difficult for middle and low income families.

Who couldn't see this coming from a mile away.
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Old 09-20-2009, 06:36 PM
 
Location: Southcentral Kansas
44,877 posts, read 31,730,340 times
Reputation: 4269
Quote:
Originally Posted by J Arp View Post
Here's to shortsightedness!

Used cars scarce in Montgomery - Columbian.com (http://www.columbian.com/article/20090920/APF/909201403 - broken link)

Now instead of some of the big auto dealerships going out of business we'll just toss the smaller fish in the fryer and make life more difficult for middle and low income families.

Who couldn't see this coming from a mile away.
The people who obviously couldn't see this coming were the people running Government Motors and Chrysler. They had such huge stocks of new cars that just weren't going to sell and that made them want that foolish program. They screwed their dealers over new cars and then aided in the destruction of older cars. Actually there are no junkers to take parts off of, either because of that program. We will keep seeing problems from that program for some time, IMO.
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Old 09-20-2009, 06:40 PM
 
Location: Chicagoland
41,306 posts, read 43,173,713 times
Reputation: 7115
Car showrooms quiet after clunkers clamor ends - The Boston Globe

All the program really did was encourage buyers to buy now, instead of next year - all on the taxpayers dime, of course.
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Old 09-20-2009, 06:42 PM
 
Location: Fredericktown,Ohio
7,168 posts, read 5,099,987 times
Reputation: 2921
I saw that coming on day one, it does not take a economist to figure that out just common logic.The kicker is it was done with borrowed money that has to be paid back with interest and that is a backwards way to stimulate the economy.
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Old 09-20-2009, 06:46 PM
 
Location: US
1,193 posts, read 3,842,192 times
Reputation: 831
Quote:
Originally Posted by roysoldboy View Post
The people who obviously couldn't see this coming were the people running Government Motors and Chrysler. They had such huge stocks of new cars that just weren't going to sell and that made them want that foolish program. They screwed their dealers over new cars and then aided in the destruction of older cars. Actually there are no junkers to take parts off of, either because of that program. We will keep seeing problems from that program for some time, IMO.
Yeah I can't believe I almost forgot about the dealership closures awhile back. All the corporations care about is the bottom line for the next quarter.
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Old 09-20-2009, 06:47 PM
 
47,527 posts, read 66,594,221 times
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The problem with the Obama economy, it's just like the Bush economy. Spend money that doesn't exist, export jobs to third world countries and get people buying things with money they don't have.

We need manufacturing jobs. It's great that people are going to college and getting degrees because education in itself is a great thing but there aren't going to be jobs that require degress for them all when they graduate.
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Old 09-20-2009, 06:52 PM
 
Location: SARASOTA, FLORIDA
11,486 posts, read 14,648,205 times
Reputation: 4892
Quote:
Originally Posted by malamute View Post
The problem with the Obama economy, it's just like the Bush economy. Spend money that doesn't exist, export jobs to third world countries and get people buying things with money they don't have.

We need manufacturing jobs. It's great that people are going to college and getting degrees because education in itself is a great thing but there aren't going to be jobs that require degress for them all when they graduate.

Thank you! Rep to you.

We need to go back to being an industrial nation that makes out own goods.
This crap about re training people to do other jobs is a lie and a scam.
Retrain them to do what? Work at McDonalds?

Cash for clunkers is just another Clinton type mistake of finding a way to get people into cars who cannot afford it in the first place.

Obama created this to help certain people get better cars on our money.

I predict that we will see a massive car repo coming from this mistake.

If the people could afford a new car they could have got it without the freebie help.

Like anything Obama does, this was created to make something look positive short term, but in the end it will hurt us all.

Dealers are still waiting on that fake Obama money also.
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Old 09-20-2009, 06:56 PM
 
Location: Great State of Texas
86,052 posts, read 80,666,235 times
Reputation: 27699
I understand the government spent $3 billion to save $3 million.


Presidential Math: Cash for Clunkers Spent $3 Billion to Save $375 Million
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Old 09-20-2009, 06:57 PM
 
3,071 posts, read 8,650,437 times
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Problem with the program was the dealers knew which cars would qualify and got to play with the prices FIRST.......I think the real cost of those cars would have been alot less if there had been no program.
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Old 09-20-2009, 07:07 PM
 
Location: San Jose
1,862 posts, read 2,280,315 times
Reputation: 541
It appears that the program has helped increase demand for GM.

From GM dealers can't keep hot models in stock - 9/18/09 - Flint News and Saginaw News - abc12.com (http://abclocal.go.com/wjrt/story?section=news/local&id=7019234 - broken link)

In fact, it's possible the automaker could call back some laid off workers.
Mosher says it's all because of the Cash for Clunkers program. "I think that's what put everyone, at least GM, behind. Because every dealer is low on inventory."
He says, for now, it is working in favor of the automaker. "It's definitely creating a good situation in the urgency type of manner."

From Dealers to GM: Give us More Cars - Econwatch - CBS News

Following a pattern of economic improvement in recent weeks, General Motors was surprised to find that its dealers want up to four times more cars than the company had predicted it would build in October, reports the Detroit News. Usually automakers' projections are not so far out of line with dealer needs. In one glaring example, GM planned to make 8,000 Chevrolet Equinoxes, but dealers have asked for 30,000.

"Showroom traffic is getting better and consumer confidence is improving," Tom Stephens, GM's vice chairman and head of global product development, told the Detroit News.

Stephens points to the "cash for clunkers" program, GM's exit from bankruptcy in July, a thinned-out inventory and a new 60-day return policy as reasons for the high demand. He says the company plans to continue to increase production through the year.


Other car makers, including Ford and Chrysler, have also reported increases in production.

And this article did have one cautionary note:

But one industry analyst warned not to get too excited. Dealers always ask for more cars than they sell, and the auto sales slump continues.


So, I think it's too early to say that the cash for clunkers failed. GM is still around, has more demand and their jobs haven't been lost.
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