It appears that a U.S. "Cash for Clunkers" program is right around the corner now that President Obama and the U.S. House of Representatives have come to an agreement on how the bill should be structured. However, it's not a done-deal yet, as the legislation still needs to get through Congress.
The United States finally appears ready to implement a "Cash for Clunkers" program now that President Obama and the U.S. House of Representatives have come to an agreement on how the bill should be structured. It's not yet a done deal, though, as the legislation still needs to get through Congress.
The Environmental Transport Association in the United Kingdom is not pleased with the government's plan to launch a so-called Cash for Clunkers program. Automakers are generally fond of the proposals that would pay new car purchasers £2,000 for trading in their old rides for new cars. The stated goal is to get older, dirtier and less fuel efficient machines off the road in favor of models with the latest emissions controls.
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, re
Inspired by the success that Germany has seen in boosting new car sales (up by over 20% in that country), the Society of Motor Manufacturers and Traders in the United Kingdom drafted a plan and submitted it to lawmakers in the UK that recommended a car scrapping scheme similar to the one recently instituted by their European neighbors.
Last month, Germany reported a shocking 21 percent improvement in auto sales, and the greatest driver in the uptick was a used vehicle scrapping plan that pays drivers 2,500 euros ($3,150) to remove their old car from the road. With new car sales in most other countries down by at least that much, it was widely speculated that other governments would look closely at Germany's new system to see if it would be worth adopting in their areas.