Japan Mulls Subsidies On Green Car Sales - Nikkei
Date: 06-Apr-09
Country: US
NEW YORK - The Japanese government may start offering subsidies of up to 300,000 yen (US$3,000) on hybrid cars and other environmentally friendly vehicles to cut greenhouse gas emissions and boost sagging auto sales at the same time, the financial daily Nikkei said in its Saturday edition.
Besides hybrids and electric vehicles, Nikkei said gasoline and diesel-powered cars meeting stringent emission standards would also qualify for subsidies.
A buyer of a mini-car meeting the program's standards would get 100,000 yen and a buyer of a larger qualifying vehicle would receive 200,000 yen. A buyer moving to a new green car from a vehicle at least 13 years old would get an additional 100,000 yen.
"The government is looking to introduce the new subsidies before summer and keep them until the end of fiscal 2009," Nikkei said.
The paper said that, along with tax breaks that went into effect Wednesday, the subsidies are expected to raise sales of new vehicles by one million per year.
(US$1=100 yen)
(Reporting by Gerald E. McCormick; Editing by Tim Dobbyn)