BRATISLAVA, Slovakia—The second round of Slovak government subsidies for buying a new car ended on Tuesday. More than 22,000 cars older than 10 years ended up in junk yards. Participants were given a 1,000 euro (US$ 1300) bonus for their trouble.
It took just nine days to use up the 22 million euro set aside by the Slovak state. Counting both the first and second round, the Slovak government supported buying more than 40,000 new cars.
Peter Bori, service technician for a car retailer in Nove Zamky, praised the ‘Cash for clunkers’ plan for boosting new car sales. “Car sellers came into their own, credit companies came into their own, everyone benefited,” he said.
The process also had its drawbacks, like the large number of jalopies stacked up in junk yards, and the increased price some retailers introduced for some models in the second round of the scheme.
Not everyone has received their new car yet, either. Some models must be ordered by retailers, and the waiting period could be several months.
Cash for clunkers was introduced in other European countries, such as Germany, France, Italy, and others.
It took just nine days to use up the 22 million euro set aside by the Slovak state. Counting both the first and second round, the Slovak government supported buying more than 40,000 new cars.
Peter Bori, service technician for a car retailer in Nove Zamky, praised the ‘Cash for clunkers’ plan for boosting new car sales. “Car sellers came into their own, credit companies came into their own, everyone benefited,” he said.
The process also had its drawbacks, like the large number of jalopies stacked up in junk yards, and the increased price some retailers introduced for some models in the second round of the scheme.
Not everyone has received their new car yet, either. Some models must be ordered by retailers, and the waiting period could be several months.
Cash for clunkers was introduced in other European countries, such as Germany, France, Italy, and others.
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