European car makers Monday asked the European Union to consider a EUR40 billion low-interest loans package to help secure a sustainable market for current and newly developed fuel-efficient technologies.The request is part of an initiative driven by the European Automobile Manufacturers' Association, known by the French acronym ACEA, to ensure the future of car manufacturing in Europe and to reinforce the momentum in consumer demand for fuel-efficient vehicles.
"The proposed loans-package will give an important and welcome signal to consumers and financial markets," said Christian Streiff, president of ACEA and chief executive of French car maker PSA Peugeot-Citroen.
2008 Paris Auto Show
2009 BMW 7-Series
Read Article