Germany proposes 5bn euro car bonus

Germany’s Ministry of Economics has proposed a 5 billion euro ($5.6 billion) buyer bonus scheme as part of an impending stimulus package in an effort to boost car sales, two people close to the matter said yesterday. Global car sales have slumped as production lines and showrooms shut in response to the coronavirus pandemic. A business sentiment survey by the Ifo institute this month showed the German auto sector at its lowest ebb since 1991.