In an initial report, dated August 5, the NHTSA showed GM was the most popularly purchased brand capturing an 18.7 per cent share of the clunkers market but as the scheme kicks on it seems more buyers are heading towards the Japanese manufacturer which has now overtaken GM to score an 18.9 per cent share.
The top-five market leaders under the scheme are follows:
- Toyota: 18.9 per cent
- GM: 18.7 per cent
- Ford: 15.4 per cent
- Honda: 12.9 per cent
- Chrysler: 9.1 per cent
The CARS program has so far handed out US$1.5 billion in rebates, marking the half-way point of the program’s US$3 billion funding.
The Toyota Corolla remains the most popular new car model purchased under the CARS program.