ASU research finds that Cash for Clunkers rebates were too high to prompt car upgrades

Green Car Congress

Carey School of Business analyzed a unique data set. The Car Allowance Rebate System, which cost the government $3 billion and was dubbed “Cash for Clunkers,” was so popular that it ran for only a few weeks in the summer before running out of money. It was a great opportunity to get some insights from this natural experiment about trade-in promotions and the effect of trade-in rebates that nobody had looked at before.

Brookings analysts recommend against repeating cash for clunkers program in future recession

Green Car Congress

However, the cost of CO 2 reduced was comparable or lower than that achieved through less cost-effective policies such as the tax subsidy for electric vehicles, the analysis concluded. Cost per job created. Cost per ton of carbon reduced. After the “clunker” was traded in, its engine was destroyed. 677,842 clunkers were traded in between 1 July 2009 and 24 August 2009 as part of the program, which issued $2.85

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Univ. of Delaware Researchers Conclude Cash for Clunkers Cost Exceeded Benefit

Green Car Congress

Burton Abrams and George Parsons of the University of Delaware evaluated the efficiency of the recently concluded Cash for Clunkers (CARS) program and concluded that the cost exceeds the benefit by approximately $2,000 per vehicle, or close to $1.4 Abrams and Parsons calculated the average national cost per vehicle turned in to be scrapped under CARS at $2,600. Using an estimated cost of $0.71 2009) Is CARS a Clunker?

US cash for clunkers scheme ends

Green Cars News

The US car scrappage scheme know as the ‘cash for clunkers’ plan will end next week after the funds ran out. Transportation Secretary Ray LaHood announced on Thursday that after a successful run, the cash for clunkers program will come to a close on Monday, August 24th at 8 p.m. This program has been a lifeline to the automobile industry, jump starting a major sector of the economy and putting people back to work,” Secretary LaHood said. “At

Study Concludes Cash for Clunkers Program Is an Expensive Way to Reduce Carbon; Paying Nearly 10x the Projected Price of Carbon Credits

Green Car Congress

The federal government’s Cash for Clunkers aims to stimulate the economy, provide relief for automobile manufacturers and reduce greenhouse gas emissions. program is paying nearly 10 times the projected price of carbon credits per ton in the best-case scenario, according to an analysis of the implied cost of carbon dioxide reductions under the program by UC Davis transportation economist Christopher Knittel.

Has the cash for clunkers scheme failed? The Green Piece

Green Cars News

The Car Allowance Rebate System (CARS for short, or ‘cash for clunkers’ as it is more commonly known) was the US’s answer to the scrappage schemes in Germany and the UK which appeared to have revitalised their respective automotive sectors. With General Motors and Chrysler also showing signs of modest improvement, all looked rosy. A money saving scheme that’s proving costly. When the cash for clunkers scheme was introduced, we at TheGreenCarWebsite.co.uk

More international criticism for scrappage schemes

Green Cars News

Yesterday we told you how the scrappage scheme proposals in the USA are coming under fire and today it is the turn of Spain’s scheme to face criticism. The Ecologistas en Accion , one of the country’s most important green groups, is claiming that the scrappage scheme is bad business. According to the group, driving a car is not only bad for the environment but it is also bad for administrations expecting to reap financial rewards.

Labour's £5,000 sweetener to launch electric car revolution | Environment | The Guardian

Tony Karrer Delicious EVdriven

Environment Web News Sport Comment Culture Business Money Life & style Travel Environment Blogs Video Jobs A-Z Environment Electric cars Labours £5,000 sweetener to launch electric car revolution Ultra-green vehicles at heart of £250m plan to slash UKs carbon emissions Digg it Alok Jha , green technology correspondent The Guardian , Thursday 16 April 2009 An electric car. The new breed of electric car. Of that, 58% of the emissions are caused by motor cars."

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