REPORT: Just 5.7% of dealers have gotten cash for their clunkers
Anyone looking for the pace of Clunker reimbursements to uptick will likely be disappointed as well, as the study also shows that 83.7% of all clunker apps are still under review. Further, 6.3% of claims have reportedly been rejected, and NADA says that the dealers aren't even being given a reason why. The Obama Administration insists that all approved C4C transactions will be reimbursed, while rejected claims can be resubmitted. While it's no surprise that the government isn't able to move quickly to reimburse dealers, it does astound that the apparent administrative incompetence of C4C cost $100 million.
[Source: Automotive News - subs req'd | Image: Justin Sullivan/Getty]
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