Vouchers For Romanian Clunkers Program Traded For RON1700

The vouchers were traded for between RON1400 and RON2000 when the program started on February 18. Two weeks later, the "market" has stabilized at RON1,700.

Over 20,200 old cars have been scrapped since February 18 when Romania set off its 2010 clunkers program, accounting for some two thirds of the overall number of cars scrapped in 2009. The same period saw 456 new car purchases which involved the use of at least one voucher.

Environment Ministry officials said the big gap between the number of cars scrapped and the number of new cars purchased under the clunkers program is due to technicalities regarding new car purchases, but admitted that there is a trading market for vouchers.

Gheorghe Popescu, head of the Environment Fund Administration (AFM) told MEDIAFAX on Friday that the 50,000 vouchers set aside for individuals would be entirely distributed by mid-next week.

Romania's 2010 clunkers program set off on February 18 after the Government relaunched the campaign for the scrapping of old cars. The new and improved program sets one owner can scrap multiple cars and receive multiple vouchers. It will close on November 25.

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