WHEN: TODAY, THURSDAY, OCTOBER 29TH
WHERE: CNBC'S "SQUAWK ON THE STREET"
Following is the unofficial transcript of a FIRST ON CNBC interview with Edmunds.com CEO Jeremy Anwyl today on CNBC's "Squawk on the Street."
All references must be sourced to CNBC.
ROMER: I'D HAVE TO LOOK AT THEIR NUMBERS BUT THAT SEEMS COMPLETELY IMPLAUSIBLE TO ME WE KNOW THAT THE CASH FOR CLUNKERS PROGRAM COST ON TOTAL ABOUT 3 BILLION DOLLARS AND WE THINK WE GOT A LOT OF JUICE OUT OF IT SO THAT ITS BANG FOR BUCK IS ACTUALLY QUITE GOOD
BURNETT: WOW JOINING US NOW FOR A FIRST ON CNBC INTERVIEW IS EDMONDS.COM CEO JEREMY ANWYL JEREMY GOOD TO HAVE YOU WITH US
ANWYL: GOOD MORNING
BURNETT: SO SHE GOT A LITTLE AGITATED SO EXPLAIN WHERE YOU GOT YOUR NUMBER
ANWYL: OK SURE YOU KNOW ANYTIME YOU HAVE A PROGRAM OF ANY SORT WHETHER IT IS AN INCENTIVE FROM THE MANUFACTURER IN THIS CASE AN INCENTIVE FOR THE GOVERNMENT THE QUESTION IS HOW MANY EXTRA SALES WERE CREATED WE ARE NOT SAYING THAT THE GOVERNMENT SPENT 24,000 FOR EVERY VEHICLE SOLD WHAT WE'RE SAY IS THE 24,000 DOLLARS WERE SPENT FOR CARS THAT WERE SOLD THAT WOULD NOT HAVE BEEN SOLD SOMETIME THIS YEAR ANYWAY
BURNETT: SO THIS IS WHERE WE NEED TO GET TO THE BOTTOM OF IT AND IF THE WHITE HOUSE IS LISTENING NOW THEY ARE GOING TO GET YOUR SIDE OF THE STORY. SO YOU ARE SAYING CASH FOR CLUNKERS PROGRAM RESULTED IN ABOUT 700,000 VEHICLES BEING SOLD BUT ACCORDING TO YOUR CALCULATIONS JUST 125,000 OF THOSE OF 17.8% OCCURED ONLY BECAUSE OF CASH FOR CLUNKERS THAT'S THE KEY WHERE DO YOU GET THAT
ANWYL: YEAH THAT'S A GOOD QUESTION CAUSE THAT IS NOT SOMETHING THAT JUST CAME UP WITH OUT OF THE AIR WE DID SOME ESTIMATES EARLY THIS YEAR BUT WE THOUGHT THE NUMBER MIGHT HAVE BEEN 200,000 BUT THOSE WERE MORE EDUCATED GUESSES WHAT WE ACTUALLY DID HERE IS WE CREATED A CONTROL GROUP BECAUSE IF YOU REMEMBER THE PROGRAM IT WAS A LITTLE COMPLICATED NOT EVERY VEHICLE QUALIFIED SO FOR INSTANCE CARS OVER 45,000 DIDN'T QUALIFY CARS UNDER A CERTAIN MILEAGE NUMBERS DIDN'T QUALIFY AND YOU CAN ACTUALLY TAKE A LOOK AT WHAT HAPPENED WITH THE VEHICLES IN TERMS OF SALES THROUGH THE SUMMER AND NOW INTO OCTOBER AND THEN LOOK AT THE NORMAL RELATIONSHIP BETWEEN THOSE VEHICLES AND THE VEHICLES THAT DID QUALIFY AND IF YOU NORMALIZE THOSE RELATIONSHIPS YOU END UP COMING UP WITH THE NUMBERS WE CAME UP WITH IT'S A COMPLICATED SET OF MATH DONE BY PEOPLE THAT ARE A LOT SMARTER THAN ME BUT THE BOTTOM LINE IS THIS IS NOW BASED ON MATHEMATICS IT IS NOT BASED ON OPINION
BURNETT: ALL RIGHT WELL WE APPRECIATE IT VERY MUCH AND YOUR BOTTOM LINE WOULD BE GOVERNMENT SPENDING IS NOT 1 FOR 1.. 1 DOLLAR OF GOVERNMENT SPENDING DOES NOT NECESSARILY YIELD YOU ONE DOLLAR IN THE ECONOMY
ANWYL: NO WELL IT'S COMPLICATED THERE ARE ALWAYS WINNERS AND LOSERS BUT FRANKLY IN THE PIECE WE SENT OUT THERE'S ACTUALLY SOME GOOD NEWS AND I THINK WHAT'S BEING LOST IS THE CAR BUSINESS NUMBERS ARE GOING TO BE REPORTED NEXT WEEK FUNDAMENTALS ARE ACTUALLY STRONGER THAN THE SALES NUMBERS WOULD INDICATE AND SOME OF THAT IS BECAUSE OF THE PULL AHEAD OF CASH FOR CLUNKER BUT LOOKING INTO NEXT YEAR THIS SHOULD BE TAKEN AS SOME GOOD NEWS THERE'S A BIT MORE HEALTH IN THE CAR INDUSTRY THAN WE THINK
BURNETT: WELL THANK YOU VERY MUCH WE APPRECIATE FOR TAKING THE TIME TO COME ON HERE AND EXPLAIN IT IT CERTAINLY CAUGHT OUR ATTENTION AND OBVIOUSLY HERS AS WELL
ANWYL: ANYTIME SURE
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