Taxpayer Cost Of Cash For Clunkers Was $24,000 Per Car For Extra Sales

A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com.

From "Clunkers: Taxpayers paid $24,000 per car" by Peter Valdes-Dapena, CNNMoney.com senior writer, October 29, 2009. (HT: Bubble Meter).

The $3 billion program for 125,000 extra cars comes to $24,000 per car.