Program Boosts Car Sales

March 16, 2010

The “cash-for-clunkers” program prompted the sale of more than 6,200 new vehicles a week after the government rolled out the program that boosted the car industry across Europe and the United States.

“The first results are much better than some dealers had anticipated because of the government’s aggressive public relations campaign,” said Oleg Datskiv, founder of Auto-Dealer.ru, an industry research group.

The government issued 6,227 vouchers of 50,000 rubles ($1,677) each out of 200,000 allocated for the program, the Industry and Trade Ministry said on its web site.

(Bloomberg)

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