Just like the Cash for Clunkers program during the financial crisis, a Cash for Stinkers program is needed to battle the climate crisis.
program during the financial crisis, a ‘Cash for Stinkers’ program is needed to battle the climate crisis. Cash for Clunkers was designed to increase new car sales and, in the meantime, put more fuel-efficient vehicles on the road. Similarly, Cash for Stinkers’ goal would be to slow climate change, create a more just subsidy policy and get ICE stinkers to the scrapyard, while making BEVs more affordable for owners of the most polluting vehicles .
The market of China is an example of another way new BEVs only add to the global fleet. China is not only the largest car market in the world, but also a young growth market. This means most existing cars in China are too young to find their way to the scrapyard. Therefore, the 25 to 30 million new vehicles that hit the road yearly in China are mostly additions to the biggest traffic jams in the world.
This is where Cash for Stinkers comes in. It offers a voucher for every ICE car in good working order that really goes to the scrapyard. This is how it goes; one receives a voucher when an ICE car in good working order gets scrapped. This voucher can then be used to buy a new or a used BEV. The voucher should be linked to the VIN of the specific BEV, so a car can only receive a subsidy through a voucher once. Subsequently, the subsidies on new BEVs can be lowered by the value of the vouchers.
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