Folz wants scrap incentive

PARIS -- The CEO of PSA/Peugeot-Citroen SA has proposed that European governments pay owners of old polluting cars 1,000 euros to scrap their vehicles, the Financial Times reported last week.

In a meeting with reporters, PSA's Jean-Martin Folz proposed the idea as an alternative to stricter rules on the sale of new cars. The European Commission is considering the move as a possible way to cut vehicle emissions.

Folz said that most cars that pre-date European pollution regulations, introduced in 1993, account for the majority of emissions produced.

From Automotive News