HARD SHOULDER:GERMAN FOREIGN minister Frank-Walter Steinmeier has signalled his support for extending a scrappage incentive that has boosted new car sales. However, Steinmeier said the government had not yet decided on the measure.
“If things remain difficult, we will not be able to let go of the only economic stimulus instrument for the car sector,” Steinmeier told Volkswagen workers in Wolfsburg.
Steinmeier was responding to reports that the government planned to extend the measure by up to €1 billion if the €1.5 billion already put aside is used up within the next month.
The German government is offering €2,500 if owners scrap vehicles over nine years old and switch to new models with lower CO2 emissions.