![]()
- GE, Vivendi Agree to Value NBCU Stake at $5.8 Billion
- Tuesday's ISM in Focus as Bulls Call for Turn in Dollar
- Dubai Markets Open Sharply Lower for Second Day
- Dubai World to Restructure About $26 Billion of Debt
- Cramer: Dubai Can’t Sink These 6 Dividend Stocks
- White House to Crank Up Pressure on Mortgage Industry
- Treasury Threatens Banks, Not Borrowers
- Good Sign for the Economy: 'Greed' Makes a Comeback
- The World's Biggest Debtor Nations
- Treasury Threatens Banks, Not Borrowers
- We're Approaching a Market Bubble: Portfolio Manager
- Hershey Shares: What Options Are Saying
- Nov. 30: Unusual Volume Leaders
- Why Careful Shoppers Are Great for the Box Office
- Blue Nile CEO: 'We're Having the Best Cyber Monday Ever'
- Best Online Retailers to Buy Now: Internet Analyst
- ESPN The Magazine’s Body Issue: A Financial Success
- Cyber Monday: The Last Vestige of Dotcom Hype
MOST SHARED
- Timeless and Time-Tested Warren Buffett Watch Predictions
- Should Homeowners Be Able To Walk Away From Mortgage?
- Dubai World Set to Restructure About $26 Billion of Total Debt
- Good Sign for the Economy: 'Greed' Makes a Comeback
- Goldman Sachs Party Ban: No Gatherings of 12 or More
- Notre Dame Fires Charlie Weis After 5 Seasons
- Dubai Markets Open Sharply Lower for Second Day
- Blue Nile CEO: 'We're Having the Best Cyber Monday Ever'
- Nov. 30: Unusual Volume Leaders
- Oil Demand Sees Year-Over-Year Rise, First Since 2007
Cars and light trucks sold in July got more miles per gallon than those sold in previous months, say researchers, who credit the Cash for Clunkers program.
![]() |
AP |
The average mileage for new vehicles rose from 21.4 miles per gallon in June to 22.1 mpg in July. That may not sound like much, but it's the highest mileage researchers at the University of Michigan have seen since the Environmental Protection Agency reconfigured mileage estimates in October 2007. It's also the biggest one-month jump.
Study co-author Michael Sivak noted the improvement came even as gas prices fell and unemployment levels shrank somewhat. Normally, those factors lead to the purchase of more gas guzzlers. The higher mileage shows the effect of Cash for Clunkers, Sivak said, and he expects the jump to be even bigger when August figures come out. That's because the trade-in rebate program only got going late in July.
The clunkers program gives people trading in certain vehicles up to $4,500 if they increase their mileage by at least 5 to 10 mpg.
A lasting trend showing a large increase in mileage for new cars sold would be unusual for this country.
"We have made very little improvement over 84 years. Therefore, the changes we are seeing now are huge," Sivak said.
Those are only figures for new cars sold. Most cars on the road are older and it takes about 20 years for the fleet on the road to turn over completely. The new figures are a first step toward less pollution and less gasoline used, Sivak said.
- Slideshow: Top 'Clunker' Trade-In Models and Upgrades
- Slideshow: Here's Proof That 'Green' Cars Can Look Red Hot
- Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
- UPS is giving its customers the option to offset its carbon emissions when sending a package.
- Romania's presidential campaign has been rocked by a video that may show the president striking a 10-year-old boy.
- Raising alligators is hard work, and the fickle taste of rich consumers has just made it much harder, says the NY Times.
- A recent issue of ESPN Magazine was one of its top sellers ever, and it only took scantily clad athletes to make it happen.
- The continued real estate boom in China is partially fueled by a generational flood of newlyweds.











