Automotive site Edmunds.com is being criticized by the White House for its harsh analysis of the impact of “Cash for Clunkers.” It said that the site’s analysis was “faulty” and “implausible.” Edmunds.com’s CEO Jeremy Anwyl shot back that the White House was “shooting the messenger.”
Edmunds, which has been known to be pessimistic about the program’s impact, recently said that many of the vehicles would have been bought anyway and said that the U.S. taxpayers spent about $24,000 for each sale.
“Simply put, they”ve misrepresented the facts, and the White House is completely justified in calling them out on it,” said Mike Jackson, CEO of AutoNation. “It would appear that their political views have tainted their usual rigorous approach to research.”
A total of 690,000 vehicles were sold during the $3 billion Cash for Clunkers program that offered consumers up to $4,500 in rebates towards the purchase of a new car.
– By: Stephen Calogera
Source: Detroit News