When car sales declined in most European countries how did Germany record high growth?
Car sales increased in Germany last month due to an innovative incentive program launched by the government. Under this program, the government offered 2,500 Euros for car owners to get rid of their older cars and buy new replacements. This cash bonus to scrap old cars encouraged German consumers to buy 277,740 new cars last month. However exports declined in the same period. Overall the incentive program was a success in Germany. France and Italy implemented similar programs, but they were not as successful as in Germany.
