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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: Yulya	7/30/2009 9:20:30 AM
	1 Recommendation Read Replies (2) of 116555

Dealers reported problems with the government’s online system to get the transactions approved by the National Highway Traffic Safety Administration (NHTSA), which is running the program. Scott Lambert, vice president of the Minnesota Auto Dealers Association, said he was “astounded” to learn at a meeting Tuesday representing about 150 Minnesota dealers that not one has had a deal approved. “We had dealers representing 1,500 to 2,000 transactions,” he said. “We asked how many had a deal approved yet, and not one hand went up.” Lambert said the government has created a program that’s “so big and cumbersome that it can’t find a way to accept anything. We’re sending in good, reliable deals.” It’s nerve-racking for the dealers, he said, because they have given the customer $4,500 and now the dealers need to be reimbursed. startribune.com

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