Apr 9, 2009

German carmakers headed for the scrapheap

A German government subsidy for consumers to trade in their cars for new models seemingly isn't enough to spare domestic carmakers from financial pain.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

The financially conservative German Government has extended its “car scrapping” subsidy to 5 billion euros — more than three times the original allocated sum of 1.5 billion — with the authorities knocked over by the rush of people trading in their near-new cars for new cars.


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