German government to end the scrappage incentive scheme
By Andrew C., 30 Aug, 2010. 0 Comments
Despite its enormous success, the German government announced that it has no further plans to extend the scrappage incentive scheme. The deal where owners trading in a car more than nine years old receive a grant of 2500 euros towards a newer model led to a 29.5% increase last July in new car registrations compared to the past year.
Germany has extended the scheme previously to five billion euros but government spokesman Ulrich Wilhelm, in a news conference, confirmed that there will be no further extensions. Wilhelm also ruled out reports that the government was considering tax incentives for new car purchases once the scrappage scheme ended.
[via autocar]
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