Die-hard Ford fans and industry observers alike (myself included) have been quick to give Ford credit for creating the Eco-Boost V6. What’s not to love about a fuel-efficient twin-turbo V6 with torque and horsepower figures that are comparable to a V8?
Indeed, Ford’s Eco-Boost has been considered the “next evolution” of truck engines because it’s becoming harder and harder for V8 engines to satisfy new fuel economy and emissions rules. Ford was very smart to bring the Eco-Boost to market, as they are ahead of the curve in terms of efficiency.
HOWEVER, many people (including myself) wondered if the Eco-Boost would be accepted by consumers. Considering today’s news that Ford is offering an extra $500 cash back on certain F150s with the EcoBoost engine, it sounds like consumers aren’t quite ready to jump on the twin-turbo V6 band wagon. At least not in their trucks.
The question: Is this about the EcoBoost, or is this about truck buyers?
When the “Cash for Clunkers” program (a.k.a. CARS) was signed into law 2 months ago, there were a lot of different advantages pitched at the American taxpayer:
- CARS will help the environment by getting rid of polluting old vehicles
- CARS will help the economy
- CARS will help the auto industry
- CARS will help the domestic automakers earn a profit
While we can’t speak to the environmental, economic, or overall auto industry benefits, we CAN speak to the idea that the CARS program helped domestic automakers: For 3 out of 3 domestic manufacturers, the answer is NO.
According to a recent report from IBISWorld, an independent company that analyzes the auto industry, the domestic manufacturers took less than there fair share of the cash for clunkers dollars.
Here’s the data: