Cash for Clunkers is over, but dealerships across the country are still waiting for their reimbursements from the government. Some have been waiting for a month and refuse to move forward with customer Clunkers deals until they see repayment.
The Department of Transportation said more than 2,000 people are working to process dealer requests, but they didn’t say how many had actually been completed or how soon dealers can expect to be reimbursed.
Economically, the news is better – DOT reports dealers submitted nearly 700,000 rebate requests totaling $2.877 billion in sales.
The White House Council of Economic Advisers says Clunkers will boost GDP by .3 to .4 percent for the third and fourth quarter. And as car manufacturers increase production to make up for vehicles sold through Clunkers, they will save or create 42,000 jobs in the second half of 2009.