A multisource video news service that highlights nuances in reporting from media outlets around the world.

“3 billion dollars and a half a million car sales later by all accounts the program that ends at 8pm tonight has been wildly successful.  What it’s done is it has created a lot of excitement, a lot of energy and customers coming out.” (NECN)

That was video from NECN in New England.  

Today marks the last day of the Obama Administrations’ “Cash for Clunkers” program.  

We are analyzing media perspectives on the issue to determine: How successful was the program?  And what are the consequences?

Fox News brings in perspective from a perspective of a car dealer- He points out the effect crushing the traded in cars is having- it’s driving down supply.

“One factor also Alexis that a lot of people don’t figure into this.  It has driven the price of used cars higher.  So this program isn’t really helping poor people.  Its actually hurting them.  Because a lot of these people are buying Mercedes and Lexus, this is not geared towards poor people.”

CNN looks at what cars people are buying and trading and and found an interesting discrepancy.

“So what are people buying?  This dealer says that nearly 80 percent of their clunker customers are buying foreign brands.  And about 80% of what people are turning in are domestic vehicles”

As NECN and MSNBC report- for car dealers, the program has brought in more foot traffic.  But it also requires more paperwork and in many cases delayed reimbursement from the government.

“On how many of those have you been paid? 9…   So the government owes your for 1,400 cars? Correct… That’s 5.8 million in government I.O.U’s.”
“They had great intentions, it’s just that they were not prepared for the paperwork part of the program.”

What about the environmental aspect of the program?  MSNBC breaks down the mileage numbers.

“The vehicles traded in so far average 15.8 miles per gallon.  The vehicles purchased get 25 mpg on average or a 58% improvement. Still it will end up being a small blip in the mileage numbers.  Although 457,000 clunkers were traded in as of Friday they represent a fraction of 1% of the 136 million cars on the road in this country.”

So do you think car sales will plummet when the program ends?  Do you think the program was worth it?