German car scrappage scheme ends
Government funding for the German car scrappage scheme has run out, marking an end to a scheme that has provided a much-needed boost to car sales.
The 5bn-euro ($7.1bn; £4.4bn) scheme has encouraged almost two million motorists to scrap their old car and exchange it for a new one.
The scheme helped boost car sales by 28% in August compared with a year ago.
There are concerns that car sales will now fall sharply without the government funded incentives.
Car scrappage: Winners and losers
Many major economies have introduced scrappage schemes to boost sales, including the US, France and the UK.
Last week, the "cash for clunkers" scheme in the US also ran out of cash after the government spent $3bn in a matter of weeks.
BBC NEWS | Business | German car scrappage scheme ends
The 5bn-euro ($7.1bn; £4.4bn) scheme has encouraged almost two million motorists to scrap their old car and exchange it for a new one.
The scheme helped boost car sales by 28% in August compared with a year ago.
There are concerns that car sales will now fall sharply without the government funded incentives.
Car scrappage: Winners and losers
Many major economies have introduced scrappage schemes to boost sales, including the US, France and the UK.
Last week, the "cash for clunkers" scheme in the US also ran out of cash after the government spent $3bn in a matter of weeks.
BBC NEWS | Business | German car scrappage scheme ends
