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
[Source: Detroit News
, Financial Times