IRVINE, Calif., June 22, 2009 -- With Cash-for-Clunkers legislation headed for signing by President Obama, the team of experts at Autobytel Inc. (Nasdaq:ABTL) has compiled an online buying guide (available at Autobytel sites MyRide.com and Autobytel.com) that identifies the top brands and best model bets for a new, more efficient automobile that qualifies for the proposed Cash-for-Clunkers voucher. With gas prices surging upwards, the guide also serves as a timely road map of those vehicles best equipped to save money at the pump.
The Cash-for-Clunkers legislation is an effort to remove inefficient vehicles from the road and spur auto sales. It rewards those turning in older gas-guzzling vehicles with cash vouchers worth up to $4,500 towards a new, more efficient model.
According to Autobytel's Cash-for-Clunkers Guide, Mini Cooper and Scion top the list with 100% of their line-up qualifying for vouchers. Honda and Saturn are close behind at 94% and 93%, respectively. Chevrolet leads all other brands in the total number of vehicles qualifying for a voucher, and Audi, Volvo, and Lexus are the only luxury manufacturers to make the cut. Ultra-luxury vehicles dominate the list of those with 0% qualifying vehicles, including such aspirational brands as Lamborghini, Maybach, Rolls Royce, Ferrari and Aston Martin. The guide also provides consumers with comprehensive information about the Cash-for-Clunkers legislation, as well as specifics about what qualifies a vehicle as a clunker.
"In this economy, consumers need every break they can get, and Autobytel's user-friendly guide helps consumers understand if their vehicle is an official clunker and which vehicles would qualify for a replacement voucher," said Mark Garms Executive Vice President and COO of Autobytel. "And it is good news for automakers with nearly every major manufacturer represented on the Top 20 list demonstrating that, in a time of rising gas prices and economic challenges, consumers have an excellent array of fuel efficient vehicles available to them."
To create the guide, Autobytel looked at all 2009 and 2010 EPA vehicle mileage data and then filtered for vehicles that offered 22 mpg or better for a passenger car, or 18 mpg or better for a light truck or SUV. Autobytel then took the sum of all qualifying vehicles for a brand and divided that number by how many vehicles were in the brand's lineup total, providing a "Vehicles that Qualify" percentage. The Top 20 car brands on the qualifying list are guaranteed to have a variety of qualifying options, and are ranked by percentage of lineup that qualifies for a voucher.
Autobytel Cash-for-Clunkers Top 20:
Mini 100% Scion 100% Honda 94% Saturn 93% Subaru 88% Suzuki 85% Pontiac 79% Mazda 74% Hyundai 73% Volkswagen 73% Kia 71% Toyota 62% Mitsubishi 62% Nissan 54% Mercury 50% Ford 46% Volvo 45% Chevrolet 45% Audi 39% Lexus 39%
Autobytel's Cash-for-Clunkers Guide includes a snapshot of each qualifying brand; the brand's top qualifying passenger car and top qualifying SUV/truck based on mileage; an Autobytel Editors' Choice recommendation for each brand, as well as a list of the 0% qualifying brands. Qualification for the Cash-for-Clunkers voucher is subject to various conditions that are related to both the trade-in vehicle and the new vehicle purchased. The complete Cash-for-Clunkers Guide, including the program requirements, is available at www.myride.com and www.autobytel.com.
To speak to an expert on Cash-for-Clunkers, or on other consumer automotive issues please contact Crystal Hartwell, 949.437.4755, crystalh@autobytel.com.
About Autobytel Inc.
Autobytel Inc. ("Autobytel" or the "Company") is an automotive marketing services company that assists automotive dealers and manufacturers sell cars. By connecting consumers to automotive dealers and manufacturers through internet lead referral programs and on-line advertising, the Company provides automotive dealers and manufacturers with opportunities to efficiently market their vehicles to potential customers. The Company purchases from third party sites and generates from its owned websites consumer internet requests for pricing and availability for new and used vehicles as well as for vehicle financing (these consumer internet requests are referred to as "Leads"). The Company sells the Leads primarily to its automotive dealer and manufacturer customers. Leads are purchased from a network of supplier websites, such as Edmunds, Kelley Blue Book and Yahoo!. The Company owns consumer-facing automotive websites, including Autobytel.com(R), Autoweb.com(R), AutoSite.com(R), Car.comsm, CarSmart.com(R), CarTV.com(R), and MyRide.com(R), that provide consumers with information and tools to aid them with their automotive purchase decisions. In addition to advertising opportunities on its owned websites, the Company provides advertising opportunities for automotive manufacturers and other automotive advertisers through the Company's marketing network, which includes the automotive sections of third party co-branded websites operated by the Company, such as ESPN.com and the Company's AutoReach advertising network.