30 Jul '12, 12pm

France unveils green incentive to rescue auto industry

France unveils green incentive to rescue auto industry

PSA Peugeot Citroën and the French goverment have been negotiating how to repair the company's business position without ruining the new government's promises to the electorate. At last count, Peugeot wants to send 14,000 workers home for good, close a factory in Aulnay , and trim some of its 25% overcapacity. The automaker desperately wants to sell more cars to help it stop losing €200 million ($246M U.S.) per month . The government has already nixed the most drastic plans , but it needs to keep Peugeot from drowning at the same time as doing so saves jobs, encourages domestic car sales, and balances a nasty state budget. In addition, any maneuver needs to keep the EU's competition watchdog from intervening. Dow Jones reports that the solution involves increasing cash incentives for EV and hybrid purchases and raising taxes on "high emission vehicles." France already prov...

Full article: http://green.autoblog.com/2012/07/30/france-unveils-green...

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