It looks like France might extend their version of Cash for Clunkers beyond the end of this year. Apparently, the illusion of near-term economic growth has the country hooked.
Bloomberg: French car sales gained 7 per cent in August, the fourth consecutive monthly increase as demand for small cars continued to be helped by government incentives. Registrations of new cars rose to 110,607 last month, the French Carmakers’ Association said today in a statement.
Domestic automakers Peugeut and Renault are surely happy, August sales were 17% and 11% respectively.
Let’s hope this idea doesn’t swim back across the pond.
Business Insider Emails & Alerts
Site highlights each day to your inbox.