R.L. Polk Says
More vehicles being scrapped than purchased, R.L. Polk says
Polk found that more than 14.8 million cars and light trucks were scrapped in the U.S., compared with new vehicle registrations of just more than 13.6 million.
The tally, taken between July 1, 2008, and Sept. 30, 2009, includes thousands of cars demolished during last year's cash-for-clunkers program.
Scrapping statistics are viewed in the industry as a bellwether for future gains in vehicle sales. The higher the rate of scrapping, the more likely that the demand for new and used vehicles will rise -- especially if the economy is improving.
This is the first time Polk's analysis covered a 15-month period, in large part to accommodate the clunkers program. Cash for clunkers gave consumers up to $4,500 in rebates on a new vehicle if the trade-in and new purchase met certain requirements. The program ran from July 27 through Aug. 25, 2009, and was funded with $3 billion in taxpayer funds.
Polk did not compile figures from comparable 15-month periods, but the research company said light-vehicle scrap rates have increased in the past five years.
Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100402/RETAIL01/100409972/1400#ixzz0k8WLXOZw
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Sunday, April 4, 2010
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