Germany recently began a scrapping incentive program that gives buyers €2,500 to get rid of their old cars and buy new ones. The plan helped create a 21% jump in car sales during the month of February, even though the plan didn't take effect until February 20. It was the kind of success that has both the UK and the U.S. mulling over such a program, and has Germany considering doubling the incentive plan by adding another €1.5 billion of government money.
The German government hasn't confirmed extending the scrapping program, and there is no word on how much of the initial €1.5 billion in incentive money remains. It has been reported, though, that many in the government are for the extension, and that the government will meet after Easter to discuss. Doing so would also allow everyone to see how the program affected March's full-month sales. Thanks for the tip, Gregg!
[Source: The Local | Photo by creat1on | CC2.0]