Reports: UK considering paying for old cars

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April 13, 2009 00:50

 
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The British government is considering giving consumers a cash bonus to trade in their old cars and buy new ones in an effort to help the country's ailing automotive industry, newspapers reported Sunday. A similar plan in Germany has given auto sales there a big boost, with one German auto industry group saying that new car registrations in the country in March soared to their highest level since 1992, thanks to the bonus. France has introduced a similar incentive, and the US Congress is developing its own version of the plan, dubbed "cash for clunkers." Proponents say it the plan gives consumers a chance to swap their old autos for newer and often more fuel efficient ones, while stimulating the struggling international auto industry.

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