Abwrackpramie: 90 percent of the funds are gone

Abwrackpramie: 90 percent of the funds are gone

Eschborn, 17. August 20009 – those who still want to benefit from the government’s scrappage scheme for old cars must hurry: the claim pot is almost empty. With the current average of around 9,000 online reservations per day, the funds were exhausted in three weeks and thus just before the federal election on 27. September. According to the claims funds overview of the responsible federal office of economics and export control (BAFA), there are still funds available for 183.736 premiums (as of monday, 17. August, 11:30 a.M.). This is no longer even 10 percent of the total budget. The scrappage scheme has triggered a sales boom, especially for small cars. However, with the expiry of the taxpayer-funded incentive, experts fear a sharp drop in new registrations.

Car dealerships: growth – repair shops: sales decline

According to calculations by the federal statistical office, the auto trade achieved a 4.7 percent increase in sales in the first five months of this year. The number of newly registered cars even increased by 22.8 percent compared to the same period last year. The figures reflect the trend towards buying cheaper small cars with the help of the premium. Importers benefited more than german manufacturers from the boom. Sales in the german auto industry fell in the first five months by almost a third (32.5 percent) to just under 100 billion euros. Garages had less work to do with the younger car fleet and had to cope with a 3.8 percent drop in sales.

Bose’s awakening 2010?

According to ferdinand dudenhoffer of the CAR center at the university of duisburg-essen, the german car market is facing an even worse crash next year than previously expected. In 2010, one million fewer cars could be sold than this year, the scientist predicted. In germany only 2.7 million cars were sold with it. Compared with 2008, this would be a drop of over 12 percent.

Dudenhoffer also warned that german carmakers should not pin their hopes on foreign markets in the coming year. "Stable growth patterns currently exist only in china, and china accounts for 13 percent of global car sales." in addition, scrappage schemes in germany and other countries – including the U.S. And, in europe, the U.K. Among others – had accustomed consumers to lower car prices.