Skip to main content

Auto Junk Program Going Global

Call it what you will- cash for clunkers or rubles for rubbish, Russia is getting in on the rolling wreck game. The first 200,000 lucky customers who can produce any car at least 10 old will receive a voucher for 50,000 rubles to upgrade.

"One of the biggest problems of the Russian car industry is the average time they've been on the road," said Alexei Rakhmanov, the head of the ministry's auto department. "About 50 percent of all the cars are more than 10 years old. The pilot program will not only allow us to support the carmakers but also help renew Russia's fleet."

And so another global power starts to come to grip with the fact that organic economic growth takes longer than a 2-minute commercial break to achieve by turning themselves into one of the world's largest pawn shops