UK considering its own Cash for Clunkers program
According to the Financial Times, automakers may be asked to provide half of the £2,000 offered to consumers to turn in vehicles that are at least nine years old. It's not yet clear what vehicles would qualify for the subsidy, as 80% of all new cars sold in the U.K. are from foreign automakers.
Here in the United States, a "Cash for Clunkers" plan is currently being reviewed in Congress that would offer up to $5,000 to exchange a vehicle at least eight years old for a new, more fuel efficient model.
[Source: Detroit News, Financial Times]
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