Ford Explorer the most traded-in vehicle under Cas for Clunkers

[RandySF]

http://www.nbr.co.nz/article/cash-clunkers-triggers-billion-dollar-spending-spree-106867

American motorists have gone on a car buying frenzy, scooping up the first tranche of the billion-dollar “cash for clunkers” scheme and forcing the government to stump up more.

Details of the scheme were released only a week ago and by the weekend all of the original $US1 billion had been committed.

Transportation Secretary Ray LaHood said all sales through to Tuesday would be honoured but he warned that unless the Senate approved a $US2 billion funding extension this week, the administration would be forced to pull the plug.

The scheme officially known as CARS (car allowance rebate system) rewards owners of older, gas-guzzling cars for turning their vehicles in for a new car or truck.

Ford Motor has just announced an increase in its July sales, the first year-over-year jump in almost two years. The increase was the first reported by any of the six largest auto makers since August 2008 and the first bump up for Ford since November 2007.

Ford said the most-traded-in vehicle was a Ford Explorer and most buyers drove out with new Ford Focus.