Russia buys into 'Cash for clunkers'
- 12 years ago
For the first time, Russia has used "cash for clunkers", a government programme that provides economic incentives to residents to trade in their old cars and purchase brand new and more fuel-efficient vehicles.
The scheme, formally known as the Car Allowance Rebate System, was first initiated by the US in 2009 and spread abroad since.
Cash for clunkers has been promoted as a means to stimulate the economy and put more environmental-friendly and safer vehicles on the roads.
It has been a big success in almost every country it has been used and it is no surprise Russians are now getting on board.
Al Jazeera's Neave Barker reports on the scheme from Moscow, Russia's capital.
[May 30, 2010]
The scheme, formally known as the Car Allowance Rebate System, was first initiated by the US in 2009 and spread abroad since.
Cash for clunkers has been promoted as a means to stimulate the economy and put more environmental-friendly and safer vehicles on the roads.
It has been a big success in almost every country it has been used and it is no surprise Russians are now getting on board.
Al Jazeera's Neave Barker reports on the scheme from Moscow, Russia's capital.
[May 30, 2010]