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Nov. 23, 2020
Governments around the world are looking to provide support to their automotive industries in response to the recession brought on by the Covid‑19 pandemic. Stimulus packages that support decarbonisation of the vehicle fleet through increased efficiency and electrification can aid in these economic recovery efforts. This article discusses several key features for governments to consider when designing and implementing such stimulus packages. It builds upon the lessons learned from stimulus packages implemented in 2008‑10 and discusses how the market context differs today.
Like much of the economy, the automotive sector has suffered a downturn owing to the Covid‑19 pandemic. As part of economic recovery packages, governments are exploring the possibility of implementing vehicle scrappage and purchase bonuses to support sales and jobs in the automotive sector... Read more