(Source: Autoblog)

Germany recently began a scrapping incentive program that gives buyers €2,500 to get rid of their old cars and buy new ones. The plan helped create a 21% jump in car sales during the month of February, even though the plan didn’t take effect until February 20. It was the kind of success that has both the UK and the U.S. mulling over such a program, and has Germany considering doubling the incentive plan by adding another €1.5 billion of government money. 

 According to The Local, a Düsseldorf paper – Rheinische Post report says that car sales have reportedly increased significantly since the scrapping bonus came into effect on February 20, and now there is “department-wide agreement” that is should be extended, citing an anonymous government source. 

But the scheme was only set to be available as long as funds lasted. The paper said the government plans to discuss the extension during a coalition committee meeting after Easter, and that most of the finance and economy officials had already given their consent.

Click here to read the entire article. Also,  shown below are two related articles from TransportGooru archives:

Should the U.S. institute a vehicle scrapping plan?

Consumer Assistance to Recycle and Save (CARS) Act revives “Cash for Clunkers” scrapping plan in U.S.