Economy

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.

0 comments

Leave a comment

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details

Sending...