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Tucker Torpedo brochure, c. 1947. This concept drawing includes a centrally positioned steering wheel, doors that wrap up into the roof, and front fenders that turn when the car is cornering. These features did not reach production. The Tucker 48 (named after its model year) is an automobile conceived by Preston Tucker and briefly produced in Chicago in 1948. Only 51 cars were made before the company ceased operations on March 3, 1949, due to negative publicity initiated by the news media, a Securities and Exchange Commission investigation and a heavily publicized stock fraud trial (in which the allegations were proven baseless and led to a full acquittal). Speculation exists that the Big Three automakers and Michigan Senator Homer S. Ferguson also had a role in the Tucker Corporation's demise. The 1988 movie Tucker: The Man and His Dream is based on the saga surrounding the car's production. The film's director, Francis Ford Coppola, is a Tucker owner and displays his vehicle on the grounds of his winery. The 48's original proposed price was said to be $1,000, but the actual selling price was closer to $4,000. A 1948 Tucker sedan was featured in the July 26, 2011, installment of NBC's It's Worth What? television show. The car's estimated value at that time was US$1,200,000. The car is commonly referred to as the "Tucker Torpedo". This name was never used in conjunction with the actual production car, and its name was officially "Tucker 48".
Program logo The Toyota Corolla was the program's top seller according to U.S. DoT The Ford Explorer 4WD was the program's top trade-in according to the U.S. DoT The Car Allowance Rebate System (CARS), colloquially known as "cash for clunkers", was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel-efficient vehicle when trading in a less fuel-efficient vehicle. The program was promoted as providing stimulus to the economy by boosting auto sales, while putting safer, cleaner, and more fuel-efficient vehicles on the roadways. The program officially started on July 1, 2009, processing of claims began July 24, and the program ended on August 24, 2009, as the appropriated funds were exhausted. The deadline for dealers to submit applications was August 25. According to estimates of the Department of Transportation, the initial $1 billion appropriated for the system was exhausted by July 30, 2009, well before the anticipated end date of November 1, 2009, due to very high demand. In response, Congress approved an additional $2 billion. A study by University of Delaware researchers concluded that for each vehicle trade, the program had a net cost of approximately $2,000, with total costs outweighing all benefits by $1.4 billion. A 2017 study in the American Economic Journal found that the program, intended to increase consumer spending, reduced total new vehicle spending by $5 billion.
Side view of 3rd generation Elio prototype Paul Elio sitting in the P4 prototype of an Elio. Elio Motors Prototypes with the first of the E-Series vehiclesElio Motors is a company founded by Paul Elio in 2009, in development and fund-raising to manufacture a three-wheeled, enclosed autocycle. By mid-2018, production had not commenced. The company's three-wheeler is marketed as the Elio P4 and projected by the company to attain a highway mileage rating of up to 84 mpg and offer power windows, a power door lock, cruise control, and air conditioning, in an aerodynamic, enclosed bodywork. The design is projected to include multiple air bags, anti-lock brakes, traction control, steel unibody frame, and crumple zones. The company projects that manufacturing could happen in Shreveport, Louisiana.