16 September 2009 20:41 [Source: ICIS news]
TORONTO (ICIS news)--GM Canada has launched its own “cash-for clunkers” programme, offering buyers up to Canadian dollars (C$) 3,000 ($2,800) to scrap their older, higher-polluting cars, the company said on Wednesday.
The bonus would be offered to buyers of GM cars who qualify under ?xml:namespace>
Retire Your Ride is aimed at taking higher polluting vehicles of the roads, offering qualifying buyers up to C$300 for scrapping their cars. It is administered by
However, it is not comparable with the much bigger “cash-for-clunkers” schemes in the
But despite the importance of the car sector to its economy, Canada did not offer a specific “cash-for-clunkers” stimulus programme to counter slumping car sales and boost car production.
Capacity utilisation in
The auto industry is an important downstream market for chemicals and plastics.
($1 = C$1.07)
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