The New York Times reports:
When Americans scrap an old car, they traditionally replace it with a new car.
Not recently.
A new study by R.L. Polk & Company, an automotive research and marketing company based in Michigan, indicates that from July 1, 2008, through September — a period that included the cash-for-clunkers program — more than 14.8 million cars and light trucks were scrapped in the United States. During that time, new vehicle registrations were just more than 13.6 million.
The rate of scrappage generally hints at new car sales. In past years, more vehicles scrapped meant more new cars sold...
2010 New York Auto Show Photo Gallery
2011 Ford Mustang Photo Gallery
Geneva Motor Show Photo Gallery
Read Article