European car scrapping schemes proving successful, Germany to extend program
The success of the scrapping scheme in Germany has prompted the government to extend the program at least until May, with the goal of establishing funding to let it run through the rest of the year. Similar programs are expected in the United Kingdom.
Legislators in the United States has also picked up on the idea, introducing a bill that would pay buyers of vehicles made in North America up to $5,000 to trade in their older car. President Obama later indicated that his administration was interested in adopting a program to stimulate new car sales. The bill has been met with plenty of opposition, though, and nothing has so far passed through to law.
[Source: Automotive News - sub. req'd | Photo: dave_7]
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