Automotive dealers submitted a final total of 690,114 deals by Tuesday night's 8 p.m. closure of the U.S. government's “Cash for Clunkers” program. The program offered a rebate of up to $4,500 for consumers trading in older, less fuel-efficient cars. According to an announcement by the U.S. Transportation Department, the final cost of the accepted rebates was under the $3 billion budgeted for the four-week program, at for $2.88 billion.
Dealers have reported problems getting reimbursed by the federal government for “clunkers” rebates, which prompted some to stop offering the deals early. However, the Transportation Department said it plans to add to the staff that already includes 2,000 employees who are processing dealer applications for the rebates.