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In a statement livecast on the Internet by the White House, President Barack Obama said that neither of the restructuring plans submitted by GM and Chrysler “ goes far enough to warrant substantial new investment. ”. Chrysler, the President said, is “ more challenging ”. President Obama. President Obama.
Carmakers are back on board the scrappage scheme following yesterday’s fiasco which saw the like of Ford and Honda suspend their participation in the scheme while issues over VAT payments were cleared up. Tags: Ford Green credentials Honda incentive scrappage scheme suspend.
The Car Allowance Rebate System (CARS for short, or ‘cash for clunkers’ as it is more commonly known) was the US’s answer to the scrappage schemes in Germany and the UK which appeared to have revitalised their respective automotive sectors. With General Motors and Chrysler also showing signs of modest improvement, all looked rosy.
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