VIENNA – Russia launches a scrappage scheme, in which a subsidy of 50,000 roubles ($1,676) will be paid to new-car buyers who trade in a vehicle that is 10 years or older and has been in their possession for at least one year. The incentive plan, which starts this week and runs through Nov.1, involves a budget of 10 billion roubles ($335 million) and is expected to cover 200,000 vehicles. The subsidy applies to vehicles made by Russian auto makers or those assembled by foreign OEMs in ...
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