15 October 2008 21:32 [Source: ICIS news]
TORONTO (ICIS news)--?xml:namespace>
“After the banking bailout, the car industry must also be supported with specific measures,” said Volker Lange, president of VDIK, which represents international car makers in
Government incentives for new cars were also needed to achieve the European Union’s climate and air quality targets, as new cars were more energy-efficient and cleaner than older models, Lange added.
Matthias Wissmann, president of VDA, which represents German car makers, said the financial bailout package was an important first step in turning around the economy.
Wissmann, a former federal science minister, also said that government support measures for car industries in other countries could distort market competition, a factor Germany needed to keep in mind as it was reviewing its options.
The groups’ calls echoed similar pleas by US car makers for help and came as market researchers predicted that global car markets could collapse next year.
Cars are an important chemical end market. Car parts include rubber hoses, plastic dashboards, catalysts, fibres, adhesives, coatings and many other plastics and chemical-related products.
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