US moves closer to rebate scheme on old cars for new
The US is set to move closer to a car scrappage scheme with a provision to be included in a controversial climate change bill.
The agreed scheme will offer rebates of $3,500- $4,500 on old vehicles traded in for more fuel-efficient new ones, according to one person familiar with the negotiations. The level of rebate will depend on the fuel efficiency of the new models.
Publication Date:
06/05/2009