Cash-for-Clunkers Boost Japanese Car Sales
August 18th, 2009Via: Financial Times:
The US’s cash-for-clunkers scheme, designed to bolster Detroit’s embattled carmakers, is turning out to be an even bigger boon for their Japanese rivals.
According to data published by the National Highway Traffic Safety Administration on Monday, Americans are using the scrappage incentives to buy more vehicles from Toyota than any of the three Detroit carmakers.
Toyota has an 18.9 per cent share of vehicles bought so far, putting it ahead of General Motors with 17.6 per cent and Ford with 15.4 per cent. Chrysler is in fifth place, after Honda.
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