According to the German auto importers’ association, the VDIK, the German government sponsored scrappage incentive is continuing to lift the German car market and reduce CO2 emissions from new cars.
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VDIK said on Friday that the new car market grew at a double-digit percentage rate in the first quarter despite severe declines in other European countries.
Scrappage incentives in Germany helped to lift the February car market there by 21.5%, year-on-year and a positive result is expected for March also.
According to IHS Global Insight’s Christoph Stuermer, the German authorities are processing 10,000 applications a day and at the current rate, the incentive scheme could run out of funding soon.
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