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Fasten your seatbelts - scrappage subsidy in Germany

Geoff Riley

2nd April 2009

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The Times reports that new vehicle sales are soaring in Germany partly as a result of their car scrappage subsidy.

“Germany is offering €2,500 for drivers who have cars that are over nine years old to scrap them and buy new ones. The scheme is to be extended until the end of the year after fears that the programme would run out of cash by the end of this month because it has proved so popular.” More here

The odds on this being introduced in the UK budget on the 22nd April must be pretty high! If the scrappage scheme is as powerful as it seems to have been in Germany it will provide a big shot in the arm to the embattled vehicle industry.

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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