Ford's U.S. Sales Chief Wants a New "Cash for Clunkers" Initiative: Here's Why It Won't Help [The Motley Fool]
IHS Markit Ltd. Common Shares (INFO)
Last ihs markit ltd. common shares earnings: 3/24 06:00 am
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Source: The Motley Fool
The underlying premise sounds reasonable enough: Encourage consumers to buy new cars with generous subsidies to sell their older ones, and as a result, you'll give the U.S. economy a much-needed shot in the arm. From that perspective, the recently floated idea has plenty of support, fromFord Motor(NYSE:FThe proverbial fly in the ointment: The theory doesn't quite hold water. A closer look at the so-called Cash for Clunkers program implemented back in 009 suggests the initiative didn't actually drive the purchase of more cars or even give the economy a jolt. It simply compacted sales that would have materialized anyway into a very narrow time frame.And this time around, there are even fewer actual clunkers on the road than there were then.Image source: Getty Images.A screeching halt"We think some level of stimulus somewhere on the other side of this would help not only the auto industry and our dealers, which are a huge part of our overall economy, but will help the customers as well,"
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