The German car-wreckage bonus (Abwrackprämie) for trading in cars older than nine years to buy a new, greener model initially limited to 600,000 applications exceeded this number in March 09 and reached nearly 900,000 requests.
The German Conservative Party and Social Democrats already agreed on extending the program to the end of the year.
But they plan to wait until most of the 1.5 billion Euro economic stimulus package to pay consumers 2,500 Euro (ca. $ 3,400) has been used up.
In March German car sales shot up to 40 % – the biggest rise since 1992. VDA automobile federation said sales in March rose to 401,000 vehicles due to a ‘shopping frenzy’ triggered by the government bonus.
© Flavia Westerwelle