http://seekingalpha.com/article/1529...54-per-vehicle
Here's the logic - about 222,000 vehicles would have been sold if every buyer qualified for the $4,500 cash. According to Edmunds, about 200,000 old low mileage cars would normally be traded in, every 3 months, in exchange for more efficient higher mileage cars, without this program.
The "cash for clunkers" program will mean a marginal increase in car sales of 22,000 this quarter. $1 billion divided by 22,000 means a net cost to the government of $45,354 per car.
So..........