Treasury Secretary Ray LaHood has talked about the positive effects the rebate program will have for faltering U.S. automakers. However, according to limited information released so far, most buyers are not buying American cars. In fact, six of the top ten car models sold have been made by Honda, Toyota and Hyundai.
With this latest data, the holes in the failed clunkers program are only growing larger as the majority of the taxpayers' investment is going to support the competitors of the American auto industry.
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Thank You, President Obama