Scrappage Scheme Ends
The last chapter in the extremely well documented scrappage scheme draws to an end today with car manufacturers calling last orders on Tuesday 30 March and the government releasing figures relating to the effects of scheme. Apparently the scheme, which offered around £2000 to motorists in exchange for them trading their car in for a new one, has helped some 400,000 customers to buy a new motor since it began.
The latest figures show that scrappage contributed to approximately one fifth of all new car registrations since the scheme started. Half (54%) of scrappage buyers surveyed had never bought a new car before and more than half (56%) of those surveyed said they would not have bought any vehicle at this time if the scrappage scheme had not been introduced.
Lord Mandelson, Business Secretary said: “The scheme was always time limited and today as it closes I am pleased to see scrappage has delivered the results we aimed for – not just for manufacturers, but for the whole industry and its supply chain. The figures show that this scheme gave vital support, boosting demand when the industry needed it most, helping to position the auto sector to meet the challenges of building a strong low carbon future.”