It’s time for your weekly Cash for Clunkers update. This week, Toyota has overtaken General Motors as the top manufacturer of new vehicles purchased under the Cars Allowance Rebate System. According to the National Highway Traffic Safety Administration, Toyota came in first with 18.9 percent of all new vehicles sold under the Cash for Clunker deal as of Friday.
Following Toyota was GM with 17.6 percent, down from 18.7 percent on Aug. 5. Ford came in third with 15.4 percent while Honda and Chrysler came in with 12.9 percent and 9.1 percent respectively.
Toyota’s Corolla also remained the top new car purchased under the program. Honda’s Civic came in No.2, pushing Ford’s Focus to No.3. Toyota’s Camry and Prius hybrid hold the No.4 and No.5 spot respectively.
As of Friday, dealers have submitted 358,851 deals for the clunkers initiative, a total of $1.5 billion.
– By: Omar Rana