|Date Ended:||31 December 2009|
|Policy Type:||Economic Instruments>Fiscal/financial incentives>Grants and subsidies|
|Policy Target:||Transport, Transport>Passenger, Transport>Freight|
|Agency:||German Federal Government (Bundesregierung)|
|Funding:||EUR 1.5 billion for 2009|
In order to stimulate demand for new and less polluting vehicles, the German government introduced an old vehicle scrappage scheme as part of its economic recovery package in February 2009. The scheme will run during 2009, offering a EUR 2500 bonus to those who trade in their old vehicles for a new one. The scrapped vehicle must be at least nine years old and have been registered with the current owner for one year or more. The new vehicle purchased must meet or exceed Euro 4 emissions standards, the European Unions current emission standards for light-duty vehicles. Used vehicles that are a maximum 1 year old can also be purchased. The initial budgeted amount of EUR 1.5 billion to support the purchase of approximately 600 000 cars, was rapidly spent; over a million consumers had applied for the bonus in April 2009.
Last modified: Wed, 27 Mar 2013 20:43:22 CET