Emissions concerns are growing worldwide, which has the European commission considering a new initiative that would help to get older cars off the road. Under the new plan, the EU would offer owners of older vehicles incentives to trade up for a newer model.
No incentives figures have been put forth by the European commission, but the proposal could go a long way to improving emissions and even vehicle safety. Over 36 percent of all vehicles in Western Europe are at least 8 years old, with a large portion clocking over 15 years of service.
According to The Telegraph, European officials are also considering a €40 billion loan aid for European automakers, similar to the $25 billion deal recently passed in the U.S. Like the U.S. plan, the funding would be used for the development of green technologies.
If passed, the aid would likely be financed by national governments, but would be used on a Europe-wide scale.
