"The Cash For Clunkers" program for 2010 will comprise two stages

The "Cash for Clunkers" program will only have two stages this year, as opposed to the three it had in 2009, and will allow car buyers to be rid of three cars which are more than 10 years old, in exchange for a new one, the Minister of the Environment and Forests Laszlo Borbely said yesterday, as quoted by the Ministry of the Environment and quoted by Agerpres.

"The program will begin two days earlier this year than the initially set deadline and will allow customers to buy a new car using up to three vouchers, worth a total of EUR 2,800. 228 million lei have been earmarked for this year, but the amount may be increased according to market demand ", Borbely said.

The official said that the voucher can be remitted to another individual, but it needs to include the three required documents (ownership, deregistration and scrappage) to allow its use for the purchase of a new car.

The General Manager of Dacia Group, Constantin Stroe, said he was optimistic concerning the effects of the 2010 car replacement program on the sales of cars produced by Dacia. "We expect to sell at least as many units as we sold in 2009, meaning more than 20,000", Mr. Stroe said.

The voucher for 2010 will have the same value as the one for 2009 (3,800 lei).

Individuals and companies will be allowed to buy as many cars as they want, with the former being restricted to using a maximum of three vouchers for a new car, while the amount companies will be allowed to spend on acquiring cars under the "Cash for Clunkers" will be capped at EUR 200,000 a year.

Individuals will buy 40,000 cars and companies will buy 20,000 cars this year.