Toyota Motor Corp. has overtaken General Motors Co. as the top manufacturer of new vehicles purchased under the U.S. cash-for-clunkers program.
Toyota made 18.9 percent of all new vehicles whose clunkers deals had been submitted, the National Highway Traffic Safety Administration said in its second report on the incentive. GM accounted for 17.6 percent as of Friday, down from 18.7 percent on Aug. 5, when the initial tally was released.
The Toyota Corolla remained the top new car purchased. The Honda Civic passed the front-wheel-drive Ford Focus as No. 2. The No. 9 Nissan Versa and No. 10 four-wheel-drive Honda CR-V bumped out the Chevrolet Cobalt and inventory-depleted Dodge Caliber in the top 10.
As of Friday, dealers had submitted 358,851 deals for the clunkers initiative, which gives consumers vouchers of up to $4,500 for trading in gas guzzlers for new vehicles with better fuel economy. Those deals were worth about $1.5 billion in voucher reimbursements, or half the $3 billion in U.S. funds allocated for the incentive.