France is preparing to provide further government support for its automotive industry with president Nicolas Sarkozy expected to make an announcement tomorrow.
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According to Le Figaro newspaper, the government wants to offer low interest loans and also is considering capital support for Renault, although this would need European Union approval.
Automotive industry leaders met with government leaders on Tuesday.
Last month, Sarkozy announced a EUR1.5bn support package for the auto industry, which included a scrapping incentive.
To help car makers shift unsold stocks of close to 1m vehicles, owners who scrap an old vehicle to buy an energy-efficient replacement will receive a EUR1,000 bonus, a measure forecast to cost EUR220m.
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By GlobalDataThe incentive applies only to cars with CO2 emissions under 160g/km.
