Cash for Clunkers generated nearly 700,000 new car sales and ended under its $3 billion budget, says the Transportation Department. Releasing final data, the government said dealers submitted 690,114 vouchers totaling $2.88 billion. New car sales through the program ended late Monday and dealers were allowed to submit paperwork to the government until late Tuesday. Japanese automakers Toyota, Honda and Nissan accounted for 41% of the new vehicle sales, outpacing Detroit automakers General Motors, Ford and Chrysler, which had a share of nearly 39%. Toyota Motor Corp. led the industry with 19.4% of new sales, followed by General Motors Co. with 17.6% and Ford Motor Co. with 14.4%. The Toyota Corolla was the most popular new vehicle purchased under the program, followed by the Honda Civic, Toyota Camry and Ford Focus.
Cash for Clunkers generates almost 700,000 sales
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