The government’s cash for clunkers program finally came to an end at 8 p.m. last night, netting 690,114 transactions valued at $2.88 billion. The program was originally funded for $1 billion, but was extended by another $2 billion after funds dried up during the program’s first week.
However, those figures could climb higher in the next few days as the U.S. Transportation Department has not accounted for dealer reapplications. The National Automobile Dealers Association says the clunkers’ rejection rate climbed as high as 80 percent, forcing many dealers to file claims multiple times. The U.S. Department of Transportation says it will continue to accept applications past the expired deadline.
Although hailed by the Obama administration as a success, the program did not run as smoothly as planned. The clunkers’ Web site crashed several times, resulting in a bottleneck of applications. Moreover, as of just a week ago, only about a third of dealers had received their first clunkers check, leaving many dealerships with cash flow problems.
The agency setup to handle the cash for clunkers program was originally staffed with fewer than 350 workers, but now has more than 2,000 people working around the clock. The government has declined to estimate the total cost of the CARS program, but the final tally is well over the $3 billion mark.
08/26, 5:21 PM
posted by:
jayjc08
Good news. So, if the final tally is over $3 billion, where’d the rest of the money go to? The uh… more than $20 million?
08/26, 5:27 PM
posted by:
moparsalesman1
well let them work on paying the dealers our organization is owed just under half a million dollars. and now we dont have to listen to the idiots come in anymore asking stupid questions about that god forsaken program
08/26, 5:34 PM
posted by:
idrinorbarsaku
that’s a lot of change! I would be happy with 1% of that:D
08/26, 5:35 PM
posted by:
idrinorbarsaku
mopar, don’t blame it on the program, blame it on your sh!tty cars!
08/26, 5:52 PM
posted by:
trantz
I believe the 136 pg. document named “The Rule” allocated 100 million to administration of the program.
08/26, 6:10 PM
posted by:
DenverGuy217
So is this a teaser as to how the HealthCare program would be administrated? Yikes
Wonder what the Sept-Oct sales rate will be now
08/26, 6:17 PM
posted by:
A4
Why the hell didn’t they just do this for the bailout instead.
08/26, 7:27 PM
posted by:
DrFill
Toyota wins!
Yawn!
DrFill
08/26, 8:27 PM
posted by:
armstealer
Take it from someone who lives in Massachusetts, the great state of Mitt Romney, forced insurance is not universal health care.
But on topic- It’s good to see that all that “ramped-up” production got to the dealers lots in time, right?
08/26, 9:24 PM
posted by:
alsvw
yes toyota wins by have the largest amount of inventory due to lack of sales the first part of the year. the corolla took over in this showdown. maybe this will make up the $8 billion dollars lost this year by toyooter.
yes, dr.filled. say something back. your like a pimple ready to pop.
08/26, 10:31 PM
posted by:
DrFill
Nobody has more unwanted, unsold cars than free-falling Hyundai!
Who you kiddin?
And ask your Mom
I’m all Popped out
DrFill
08/27, 1:21 AM
posted by:
leftwingagenda
free falling hyundai? crack kills, man, put the pipe down
08/27, 7:06 AM
posted by:
Luso
The German version of Cash For Clunkers…probably something along the lines of “Lösen Sie Für Scheiße ein”…LOL…was very successful.
http://www.carnorama.com/
08/27, 7:16 AM
posted by:
DrFill
Lefty
Hyundai brand US sales down 19% over last 2 years
Pay attention!
Or be yourself
DrFill
08/27, 9:33 AM
posted by:
GMasaurus
How someone could be a car enthusiast for Toyota is beyond me. Their line: a yaris (chick car), a corrolla (a no-style chick car), a camry (a no style car period), a highlander (probably the best offering for them, but still snooze-worthy), a rav4 (blah), FJ Cruiser (what in the hell is that?), and their minivan. Wow! That line up of super special cars makes me want to wake up in the morning! I mean, they are all really cool, right? Maybe when they had the supra, but now? Being a Toyota fan is like being a fan of McDonalds. I’ll take a number 3, please….with a sunroof, because that’ll make this car super hot….and make this Yaris red. Bland. Boring. Commuter cars.
08/27, 9:39 AM
posted by:
moparsalesman1
idrinorbarsaku: so what your telling me is even though the dodge caliber, jeep compass and patriot were in the top list of cars bought under that program they are crap. if that is your logic you are the type of idiot who will go to a steakhouse and eat a horrible tasting steak just because its cheaper than the reputable restaurant. yes i will eat a sh**ty steak for ten dollars as opposed to spending the extra money for a nice savory steak. besides our organization consists of hyundai, kia, ford, chevy, of course my store of chrysler dodge jeep and suzuki. we had a full lot two months ago i have seven new cars left on the chrysler side and nine on the suzuki side.
08/27, 9:47 AM
posted by:
moparsalesman1
or do you mean crappy cars like the next batch of almost 100,000 toyotas recalled because the power breaks FAIL in cold weather. put that with the huge amount of recalls that were just announced for toyotas in china and sounds to me like they are not king of the hill anymore. what is that almost 700,000 recalls in one week! that to me sounds crappy
08/27, 11:15 AM
posted by:
SoTXFord
Hey, everyone has recalls… some more publicized than others… Did I just come to Toyota’s defense? Maybe I’m running a fever…
08/27, 2:19 PM
posted by:
moparsalesman1
no you are right but everyone does have recalls including toyota. it is a level playing field right now. toyota and honda have just as many problems as any domestic or any other foreign car co that is my point. also people will not buy crappy cars it doesnt matter how much money they are saving. i would not take a four to six year loan on anything i thought was junk.
08/27, 7:54 PM
posted by:
elmdodge
govt rebate program , govt trying to run retail car business, govtF#CKS UP ! this is news
08/28, 1:26 PM
posted by:
jackjimturkey
Let’s see how many of these people got loans they can’t handle to buy these cars. not many, I imagine, unless they lose their jobs.
“the program did not run as smoothly as planned.”
DO THEY EVER?
DenverGuy217: “So is this a teaser as to how the HealthCare program would be administrated?”
forget it. There will be no heathcare reform. best we can hope for is that the GOP doesn’t make it worse.
DrFill: “Toyota wins!” Define “wins.”
alsvw: Corolla buyers lose!
leftwingagenda: “free falling hyundai? crack kills, man, put the pipe down.” Touche!
Luso: Iglourious Basterds is good, but I found Star Trek better.
GMasaurus: “How someone could be a car enthusiast for Toyota is beyond me.”
That makes two of us.
“Being a Toyota fan is like being a fan of McDonalds.” yep. It’s like eating McDonalds and thinking you’re a foodie.
SoTXFord: Unlike the Floor mat recall, this represents a serious problem.
moparsalesman1: “it is a level playing field right now.” Not really, but I understand what you’re saying.
“people will not buy crappy cars it doesnt matter how much money they are saving.” Yeah, they will.