Cash for Clunkers flunked

[Slim]

No doubt this is a good example of the "efficiency" we should come to expect with the 1900 page Obama care bill.

http://money.cnn.com/2009/10/28/auto...ysis/index.htm

I guess Edmunds is another member of the VRWC?

[lindajdunn]

http://money.cnn.com/2009/10/29/news...ion=2009102912

Romer also noted that the swing from a 6.4% rate of decline in GDP during the first quarter to the third quarter's 3.5% rise is the biggest six-month turnaround in the economy since 1980.

http://money.cnn.com/2009/10/29/news...ion=2009102917

And, since some people prefer Fox:
http://www.foxnews.com/politics/2009...payer-vehicle/

[foibles]

Using traditional relationships between sales volumes of those (luxury) vehicles and the types of vehicles sold under Cash for Clunkers, Edmunds.com projected what sales would normally have been during the Cash for Clunkers period and in the weeks after.

Using past typical relationships to make projections in a uniquely atypical financial economic environment seems suspect. At least it does to me.

[lindajdunn]

Using past typical relationships to make projections in a uniquely atypical financial economic environment seems suspect. At least it does to me.

I also have a problem with how they're calculating these relationships.

Disclaimer: My ex-husband was a car salesman and his father, all uncles, and some cousins, owned car dealerships and/or auto auction businesses.

[jessicasimpson]

I guess Edmunds is another member of the VRWC?

Maybe we should keep a "strawman" running tab.

[Inquartata]

Heh. Yes, obviously it's better to use the numbers and calculation methods of a politician trying to blow his own horn about a pet policy. Much more likely to get to the whole truth that way!

I still like the Saturday Night Live barb about how Cash for Clunkers "did stimulate the economy. Unfortunately it was the Japanese economy".

[jeff]

Ford declares surprise 3Q profit. http://www.foxnews.com/story/0,2933,571009,00.html

"The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's stock rose 40 cents, or 5.7 percent, to $7.40 in pre-market trading." (emphasis added)

[migopod]

Ford declares surprise 3Q profit. http://www.foxnews.com/story/0,2933,571009,00.html

"The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's stock rose 40 cents, or 5.7 percent, to $7.40 in pre-market trading." (emphasis added)

Oh Noes! Has Faux joined the VLWC?

[Purple Fencer]

Ford declares surprise 3Q profit. http://www.foxnews.com/story/0,2933,571009,00.html

"The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's stock rose 40 cents, or 5.7 percent, to $7.40 in pre-market trading." (emphasis added)

More impressive for Ford is bailout money was not part of it.

[erik_blank]

More impressive for Ford is bailout money was not part of it.

Agreed that this was impressive, but you need to remember that Ford had had the dubiously good business sense to completely hock thier business BEFORE the marked crash, so they still had cash on hand when the other companies who had not taken out so many loans were without any kind of cash reserves when the banks started to go belly up and cut all available credit...

[I_luv_saber]

Implying foul play?

[erik_blank]

Implying foul play?

I didn't mean to imply that, more that they were in a better position to ride out the credit crunch than their competitors were in THIS situation, so their relative success is to be expected. Of course they are still in a pretty poor situation since they have a larger dbt load and can still fail if they cannot service their debt.

[I_luv_saber]

I wasn't so much accusing or anything like that... it just piqued my curiosity. I hadn't heard anything about that so far...

[Slim]

Oh Noes! Has Faux joined the VLWC?

Or maybe their not as biased as every here likes to claim.

[Slim]

Ford declares surprise 3Q profit. http://www.foxnews.com/story/0,2933,571009,00.html

"The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's stock rose 40 cents, or 5.7 percent, to $7.40 in pre-market trading." (emphasis added)

Of course. What do you expect ANY auto maker to say? Duh.

And since Ford agrees with what you want to believe but Edmunds doesnt, you'll pick the one that serves your purpose as being legit even though anyone can clearly see Ford's claim is self serving.

I'm surprised at how blinded people can be.

[jeff]

The other manufacturers also said C4C drew sales - the only difference is that Ford declared a profit.

So, yeah ANY manufacturer says that, because it apparently is the case. Who you gonna believe, the people who saw sales figures go up because of C4C (and down after the program ended), or some magazine that says it would have happened anyway.

But, you'll opinion shop to find a source that tells you want you want to hear. I'm not surprised how blinded some people can be. And I'll believe FOX is less biased when the talking heads on their shows admit that a Democratic program worked.

[foibles]

Of course. What do you expect ANY auto maker to say? Duh.

And since Ford agrees with what you want to believe but Edmunds doesnt, you'll pick the one that serves your purpose as being legit even though anyone can clearly see Ford's claim is self serving.

I'm surprised at how blinded people can be.

I bet you were hell on your mom/ dad growing up.

[Bayou Bum]

And I'll believe FOX is less biased when the talking heads on their shows admit that a Democratic program worked.

Maybe they will if one ever works!

[jessicasimpson]

Maybe they will if one ever works!

How about Rural Electrification?
How about the Clinton Admin?

[migopod]

How about Rural Electrification?

That just led to rednecks on the internets.