The recent CARS (aka “Cash for Clunkers”) campaign has driven the media into frenzy into whether the program is going to be a wild success or wild failure. Taking politics aside, we took a look at searches indicating interest for car purchases.
Ford (NYSE:F) numbers released today show an increase in July sales of 2%. Looking at the overall search numbers, this trend appears to be moving in the north-bound direction. Use search to keep a relative pulse on where consumers are moving their money to buy new vehicles such as Honda (NYSE:HMC) and Toyota (NYSE:TM).
The jury remains out on how Cash for Clunkers will impact policy, but its impact on general car sales for July and August are significantly high. While a seasonable positive bump is expected for these months, stay close to how new car sales are trending with indications of interest through search.
There's a tricky aspect to this analysis, because last summer was marked by a used-car buying frenzy spawned by the Cash for Clunkers program. …
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