More Americans ditched older cars than bought new ones, report says

Research company R.L. Polk & Co. recently released a report saying that for the 15-month period that ended last September, more Americans got rid of older cars than bought new ones.

The tally, taken from July 1, 2008, to Sept. 30, 2009, indicated that more than 14.8 million cars and light trucks were scrapped in the US; however, new vehicle registrations totaled more than 13.6 million. This tally includes cars demolished during last year’s cash-for-clunkers program. These scrapping statistics are used to calculate future gains in vehicle sales. The higher the rate of scrapping, the more probable it is that the demand for new and used vehicles will increase, especially if the economy is improving. Polk’s study covers 15 months in order to accommodate the clunkers program.
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WorldofLuxury - 4/6/2010 1:12:44 PM

+2 Boost

Thanks for the confirmation aha

uaw_lax - 4/7/2010 5:35:33 PM

+1 Boost

Is that not why cash for clunkers was in place?