Cash For Clunkers Replaces 700,000 Gas Guzzlers

The popular 'Cash for Clunkers' program ended its brief run on August 25, and the program is estimated to have removed nearly 700,000 inefficient vehicles from U.S. roads. Officially known as the Car Allowance Rebate System (CARS), the program achieved greater fuel economy gains than originally expected, as consumers chose more fuel-efficient models than were required by the program.

The average fuel economy of the traded-in vehicles, which were crushed, was 15.8 miles per gallon (mpg), while the average fuel economy of the newly purchased vehicles was 24.9 mpg. That's a fuel economy gain of 9.1 mpg, or 58%. (Environmental Expert)