Yep. That cash for clunkers was a big waste.
Study: ‘Cash for Clunkers’ an even bigger lemon than thought
“Strikingly, we find that Cash for Clunkers actually reduced overall spending on new vehicles,” the researchers reported, noting households “tended to purchase less expensive and smaller vehicles such as the Toyota Corolla, which was the most popular new vehicle purchased under the program.”
They found buyers who participated “spent an average of $4,600 less on a new vehicle than they otherwise would have.”
https://www.foxnews.com/politics/study-cash-for-clunkers-an-even-bigger-lemon-than-thought