Final numbers on cash for clunkers

The final tally: Drivers traded in nearly 700,000 cars — with the help of about $2.8 billion in rebates — under the federal cash-for-clunkers program, the Department of Transportation reported Wednesday.

The White House believes those sales will create or save about 42,000 jobs by the end of 2009, according to the release.

“American consumers and workers were the clear winners thanks to the cash for clunkers program,” said Transportation Secretary Ray LaHood, noting the cars purchased under the program were about 54 percent more efficient than the cars consumers traded in. “This is one of the best economic news stories we’ve seen and I’m proud we were able to give consumers a helping hand.”

However, only one U.S. car — the Ford Focus — cracked the list of the top five vehicles purchased with the cash-for-clunkers rebate. The top honor belonged to Toyota, which nabbed more than 19 percent of all cash-for-clunker sales.

–Tony Romm