October 29, 2018 / 4:09 PM / 19 days ago

Carmakers ready to fund French trade-ins: minister

French Finance Minister Bruno Le Maire speaks on tax issues at a joint hearing with lawmakers of the economic affairs committee and the special committee on financial crime at the European Parliament in Strasbourg, France, October 23, 2018. REUTERS/Vincent Kessler

PARIS (Reuters) - Carmakers are ready to contribute financially to an expanded trade-in program to get older, polluting vehicles off the road, French Finance Minister Bruno Le Maire said on Monday after meeting executives from Renault, PSA Group and other manufacturers.

The government is also pushing for some second-hand car sales to be eligible for the industry-funded incentives, along with electric and hybrid vehicles, Le Maire said, adding that a final decision would be taken by the end of November.

In return, the government would agree to extend its own trade-in subsidies currently applied to older diesel vehicles, which is already oversubscribed, the minister said.

In the wake of the Volkswagen (VOWG_p.DE) dieselgate scandal, France, Germany and other European countries are drawing up measures to curb emissions of carbon dioxide and toxic nitrogen oxides from vehicles already on the road.

Reporting by Sophie Louet, Writing by Sarah White, Editing by Laurence Frost

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below