• Apr 13th 2009 at 5:32PM
  • 6
Reports indicate that government officials in the United Kingdom are contemplating the launch of a vehicle scrapping scheme modeled after the successful German program, which has boosted sales in Europe's largest market by over 20% in each of the two months it's been available. Details of the U.K. program are still sketchy, with some outlets like the Times of London and the BBC suggesting that the scrapping scheme will be included in the government's April 22nd budget. The Telegraph, however, reports that the program has been rejected entirely.

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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    • 1 Second Ago
      • 6 Years Ago
      More money for struggling automakers. At this rate, along with stimlus subsidies ( http://www.savingtoinvest.com/2009/04/your-5000-used-car-subsidy-in-proposed.html ) the US government will be giving away cars for free.
      • 6 Years Ago
      EcoBoost mustang here I come.
      • 6 Years Ago
      This implies 20% of the vehicles in the UK are sold by UK-based auto companies. That volume implies a mass-marketed car maker of some kind which I did not think existed today. What's up?
        • 6 Years Ago
        80% of the cars sold in the UK are imports. The other 20% are built within the country -- the Nissan Micra, for example, is built in Sunderland in the north-east.
      • 6 Years Ago
      Poor TR4. May the spare parts prolong the life of another TR4!
      • 6 Years Ago
      Foreign the manufacturers may be, but their plants still operate in the UK and their suppliers are mainly within the European Union. No problems there.
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