Trading an old Ford F-150 pickup truck for a new F-150 pickup was the most common swap under the Cash for Clunkers program, according to the Associated Press. More than 8,000 of these swaps took place under the program, which lead to fuel-economy gains of 1-2 mpgs. The news organization analyzed the just-released details of the Cash for Clunkers transactions.
The F-150 swaps lead to a roughly 15% improvement in fuel economy. Overall, the program’s gains averaged 9.2 mpg or a 58% improvement.
The F-150 has also been the best-selling vehicle in the U.S. for years if not decades, which may have slanted the results as well.
The AP also discovered $562,500 in Clunkers cash went to deals that did not meet the program requirements. The U.S. Department of Transportation is investigating those transactions, which accounted for .018% of the $3 billion program.AP IMPACT: Clunker pickups traded for new pickups (AP)