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European car scrapping schemes proving successful, Germany to extend program

Last month, Germany posted a whopping 40 percent increase in new car sales, an improvement over February's 21.5% gain that is again being attributed to that country's vehicle scrapping program. Similar programs in Italy and France have also reversed the trend of falling sales figures. The success of the scrapping scheme in Germany has prompted the government to extend the program at least until May, with the goal of establishing funding to let it run through the rest of the year. Similar programs are expected in the United Kingdom. Legislators ... Read more →

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