OK, apparently Bloomberg found they had a problem ... they've pulled
most of the article now.
Explanation from Yahoo Finance article (http://tinyurl.com/mdmk35):
Through late Wednesday, 22,782 vehicles had been purchased through the
program and nearly $96 million had been spent. But dealers raised
concerns about large backlogs in the processing of the deals in the
government system, prompting the suspension.
A survey of 2,000 dealers by the National Automobile Dealers
Association found about 25,000 deals had not yet approved by NHTSA, or
nearly 13 trades per store. It raised concerns that with about 23,000
dealers taking part in the program, auto dealers may already have
surpassed the 250,000 vehicle sales funded by the $1 billion program.
"There's a significant backlog of 'cash for clunkers' deals that make
us question how much funding is still available in the program," said
Bailey Wood, a spokesman for the dealers association.
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