Hyundai’s Early ‘Car Allowance Rebate System’ Trades Show Nearly 60 Percent Improvement in Fuel Economy
Early statistics from Hyundai Motor America on the U.S. government’s Car Allowance Rebate System (CARS) program, also known as “Cash for Clunkers,” show an average 59 percent fuel economy gain between the “clunker” and the new vehicle purchased. Hyundai estimates individual fuel consumption will decrease by 275 gallons per year, reducing fuel costs by nearly $680 annually at current gas prices.
As this program expands industry wide, the energy and cost savings could be considerable if these early trends hold for the 250,000 vehicle sales expected under phase one of the CARS program. Annual fuel consumption in the U.S. could decrease by 69 million gallons, reducing spending by a total of nearly $170 million on gasoline(1), and cutting CO2 emissions by more than 600,000 metric tons(2).
