Support for the European car industry

The business newspaper Il Sole 24 Ore has welcomed the plan presented in the European Parliament to support the European car industry. Alongside financial assistance for developing environmentally-friendly technology the plan also includes incentives to scrap old cars. "Those are the pillars of a two-pronged strategy emerging at the European level to support the ailing car industry and to cushion the costs incurred by the sector through the package of climate protection measures. The demands presented by the director of Peugeot and the presiding chairman of the European Automobile Manufacturers' Association (ACEA), Christian Streiff, have gained the full support of the vice-president of the EU Commission Günther Verheugen. ... Still to be resolved is the problem of emissions and carbon dioxide. Car manufacturers are demanding that they be given more time to adapt to the norms and are protesting above all against the sanctions for non-compliance, which in the end would only prompt new injections of funding from state budgets."

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