The deadline for auto dealers to file rebate applications as part of the Cash for Clunkers was nine days ago, and so far, only 17 percent of the rebates that have been filed have actually been dealt with. According to a government official, who also quoted the figure, the government plans to hire more employees to speed up the process.
Many auto dealers and other industry analysts have criticized the Cash for Clunkers for being too slow regarding the reimbursement of auto dealers, many of whom are already struggling and cannot afford to do business without the rebate money. Out of …read more

With less than 24 hours left in the “Cash for Clunkers” programs, the mad rush is on. Many dealerships across the United States have said they are experience a big jump in auto sales compared to a few months ago. In fact, many dealerships have had to bring in more workers to handle the hoard of people coming through their doors.
Dealerships are also rushing to finish their “Cash for Clunkers” paperwork. The United States federal government has made it clear that all paperwork needs to be finished on Monday. If paperwork is late, the dealership may not get reimbursed the …read more

Cash for Clunkers continues to help car dealerships sell new vehicles. While dealerships have mostly been happy, many dealerships have complained about the slow processing time for their rebate. According to the Associated Press, reinforcements are on the way to help out.
Currently, there are about 350 workers processing the Cash for Clunkers transactions. By Friday, the Obama administration reportedly wants to up the number of workers to 1,100.
The goal of this move would be to make sure that there aren’t any type of delays. For dealerships that conduct a lot of Cash for Clunkers-related sales, a big delay could mean …read more

Ford Motor Co. has emerged as the strongest American automaker off the heels of its second-quarter profit of $2.3 billion. However, analysts wonder if Ford can maintain its positive momentum, especially considering that Ford’s profit mostly comes from its debt-cutting measures reducing interest payments as well as letting go of 1,000 workers.
 
During the last quarter, Ford managed to reduce its debt by about $10.1 billion, letting go of a significant amount of interest payments. This has helped Ford to mitigate its $424 million loss in its automotive production and financing business, which is still much better than Ford did the …read more

According to Reuters, Chrysler LLC is attempting to sell its Dodge Viper sports car line. Last week, Chrysler confirmed that they have received three offers for the operation, but nothing is imminent at this point.
Rumors have been circulating for several months that Chrysler has been trying to make the sale. If a deal takes place, Chrysler would get rid of a small yet expensive manufacturing operation in order to help their bottomline. With car sales hitting a 27-year low in February, companies are trying to cut costs.
Many think that the Viper brand can take off on its own out from …read more

February was definitely not a good month for the automobile industry in America.
It may not surprise anyone that cars aren’t selling well right now, but most Americans may not realize just how bad the situation really is.he official numbers will be announced later today, but analysts predict that February 2009 sales were at a 27-year low, according to Reuters.
This is down from January sales of just 9.57 million units, which was the lowest number sold since 1982. All of the major auto manufacturers in the United States have cut back on production numbers, and foreign companies like Toyota and Nissan …read more