Six old car scrappage schemes in the European car industry werestill in effect at the end of the first quarter of 2010, after theUnited Kingdom and the Netherlands used up the funds allocated forthe support of new car sales. In Romania, the scrappage scheme,with a premium of around 950 euros, has not managed tosignificantly curb the decline of the market, which went down by55% at the end of 2009. From the second half of the year, fiveschemes will remain in operation, including the one in Romania. Atthe same time, France will reduce the scrappage premium startingJuly 1st, from 700 to 500 euros, while Spain will see its funds runout by September 30. The Romanian scheme is one of the most complexamong the ones introduced in Europe and the only one within whichthe values of as much as three vouchers can be cumulated. Thus, thescrappage premium gets close to 2,850 euros, more than the1,500-2,500 euro-premium of Luxembourg, 2,000 euros of Spain or1,500 euros in Ireland.
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