German scrapping incentive leads to 21% jump in new car sales
What's the secret? Germany has recently instituted a new set of incentives that pays motorists €2,500 to scrap their old car in exchange for a new, more fuel efficient model. Domestic manufacturers reaped the largest rewards, posting a 63% gain in February orders.
Could such a system work in the United States? It's possible, but the costs of such a stimulus would be huge and there are a number of organizations vehemently opposed to the idea that it's a good practice to remove older machines from the roadways. Still, it's a thought that could gain traction based on the success that Germany has achieved.
[Source: Automotive News - sub. req'd | Photo: nico.cavallotto]
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models