Currently reading: Cash for clunkers ends
700,000 new cars sold under US scrappage scheme

The US scrappage incentive scheme, dubbed cash for clunkers, has come to an end after 700,000 new cars were sold in a month.

Sales under the scheme totalled $2.887 billion (£1.77bn), with the most popular car sold under the scheme being the Toyota Corolla.

In total, 84 per cent of customers traded in pick up trucks and 59 per cent of cars sold were passenger cars. The remaining 41 per cent were split between new pick ups, crossovers and SUVs.

The US Transportation Department said the programme resulted in a 58 per cent improvement in the fuel economy of new vehicles sold. The average mpg of the vehicles traded in was 15.8mpg, with the average of new cars sold being 24.9mpg.

The US big three – Ford, General Motors and Chrysler – took a 38.6 per cent share of all sales under the scheme.

The top ten cars sold under scrappage in the US (according to the Detroit Free Press):

1. Toyota Corolla

2. Honda Civic

3. Toyota Camry

4. Ford Focus FWD

5. Hyundai Elantra

6. Nissan Versa

7. Toyota Prius

8. Honda Accord

9. Honda Fit

10. Ford Escape FWD

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