Dang that was fast. I told you that the CARS a.k.a. "Cash for Clunkers" program would hurt sales of new cars after the program ended. I didn't think it would be so drastic, or so immediate!
Calculated Risk highlights an 11% drop in sales from the month before the CARS program went into effect. We went from an 11 Million SAAR, to 16M during the program, and down to 9M!
Ouch.
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