Romania’s Government To Continue Supporting Auto Industry Through Clunkers Program, Guarantees

Boc said 103,000 scrapping vouchers have been distributed to individuals so far, and 400 others to companies. The Government will supplement the program with an additional 50,000 vouchers in its meeting Wednesday.

According to Boc, 12,300 new cars have been bought through the clunkers program so far, and nearly half of them are made in Romania.

The Boc Cabinet supplemented clunkers program’s funding with RON190 million mid-March, which enabled the acquisition of 50,000 scrapping vouchers.

The funding supplement came after the 50,000 scrapping vouchers that were supposed to last for all of 2010 were distributed early in the program.

Romania’s 2010 clunkers program was launched on February 18 and, unlike previous editions, allows one owner to scrap several cars and receive more than one voucher.

The scrapping bonus was kept at RON3,800 and Government initially said it plans to scrap about 50,000-60,000 old cars but has since revised its target to over 100,000 clunkers.