A glance at Europe’s ‘cash-for-clunkers’ programs
The popular “cash-for-clunkers” program that has encouraged consumers in Europe and the U.S. to trade in their old cars for newer and more efficient models was born in December 2008 when French President Nicolas Sarkozy unveiled a euro26 billion ($37.36 billion) stimulus plan to help the country ward off a recession.
To date, 11 countries in Europe offer similar plans.
— Germany offers euro2,500 to buyers of new or almost new cars who own cars that are nine years or older.
— France offers euro1,000 to scrap an older car that’s at least 10 years old.
— Italy offers euro1,500 for a car and euro2,500 for a light commercial vehicle for buyers who agree to scrap a car that is at least 10 years old.
— Spain offers euro2,000 on a purchase price of up to euro30,000; old car must be at least 10 years old.
— Portugal offers euro1,250 for scrapping a car that is 8 to 12 years old, or euro1,500 for a car that is older than 12 years.
— The Netherlands pays between euro750 to euro1,750 to scrap a car that is 9, 13 or 19-years-old.
— Austria offers euro1,500; car must be at least 12 years old.
— Romania offers euro900 to scrap a car that is at least 10 years old but limited the program to just 60,000 units.
— Slovakia offers euro1,100 toward a purchase price of up to euro18,800.
— Serbia offers euro1,000 on any new locally built Fiat Punto if a buyer trades in a 9-year-old car.
Source: Various governments, IHS Global Insight.
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