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Germans Debate Whether Car Trade-In Plan Will Backfire
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German management consultancy Roland Berger says in astudy that the cash for clunkers plan in Germany is likely to backfire by pulling in sales from 2010. It says car sales in Germany may fall by 20% in 2010, about 90,0000 jobs may be lost, and one in 2 car dealerships could be threatened with failure. GDP in Germany it says could take ahit. Roland Berger's partner Ralf Landmann says the German car market is good for 3.0 to 3.3 ,million cars per year. With sales in 2009 expected to be at 3.7 million, the forecast for 2010 are at 2.7 million to 2.8 million. Economist Carsten Dreger of DIW research institute in Berlin goes further. He says the cash for clunkers program was cannibalizing sales of other consumer products, in addition to taking sales from 2010.
Can the cash-for-clunkers program in Germany backfire?
04/01/2009
Roland Berger, aGerman management consultancy firm says that sales for 2010 could drop as much as 20%, in a recent report. About 90,000 jobs could be affected.
Grouped Articles
In Europe, ‘Cash for Clunkers’ Drives Sales
New York Times 04/01/2009
Germans Debate Whether Car Trade-In Plan Will Backfire
Wall Street Journal 08/31/2009
Clunker Plans Are Risky Route, Central Bank Says
Wall Street Journal 10/16/2009
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