AutoNation stops offering Cash for Clunkers early

Posted In: Manufacturing

By ALEX VEIGA - AP Business Writer - Associated Press

Saturday, August 22, 2009

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AutoNation Inc. says it stopped participating in the Cash for Clunkers program late Friday because the auto dealership chain wants to make sure it can submit the paperwork on its deals to the government before a Monday evening deadline.

Spokesman Marc Cannon said Saturday the company decided Thursday to bow out early so it could have ample time to enter transactions into the government-run Web site, which has been experiencing delays.

Cannon says the Fort Lauderdale, Fla.-based company sold 11,000 cars under the program as of Thursday night and estimates the government owes it $45 million in rebates. AutoNation, the nation's biggest car dealership group, has 220 locations in 15 states.

Cash for Clunkers is scheduled to end Monday night at 8 p.m.

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