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Italy ind min wants to extend car eco-incentives |
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| ITALY: April 1, 2003 | ||
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ROME - Italian Industry Minister Antonio Marzano said yesterday he favoured extending eco-incentives for the auto sector which expire today and hinted a decision could come from a cabinet meeting scheduled for.
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The government put in place incentives around a year ago to encourage people to trade in old cars and buy new eco-friendly models. They were originally due to expire at the end of 2002 but were extended to the end of March. "We haven't yet discussed it. But the Industry Ministry cannot but be in favour of prolonging them," Marzano told reporters. "Obviously we need to decide at an upcoming cabinet meeting, I hope at the next one." he said. The cabinet is next expected to meet on Friday. Italy's leading auto maker Fiat (FIA.MI) is struggling to turn itself around, and last week said it would pay no dividend after posting a 4.26 billion euro loss in 2002. The Turin-based company has seen sales and market share slide as consumers have shunned its lineup of aging models.
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REUTERS NEWS SERVICE
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