SMMT welcomes Budget scrappage
22/04/09 14:24 Filed in: News
The Society of Motor Manufacturers and
Traders (SMMT) has welcomed government’s introduction of a
scrappage incentive scheme to kick-start demand in the car and van
market.
The scheme, due to start in May 2009, will see government offer a £1,000 incentive to be matched by participating vehicle manufacturers when scrapping a taxed, insured and MOT’d car or van over ten years old which they have owned for at least one year.
But some older cars will definitely not be offered as part of the deal!
“This is good news for consumers and will get people back into showrooms, kick-starting demand in the market,” said SMMT chief executive Paul Everitt . “The scheme recognises the economic value of the motor industry and we are determined to make it a success. There is clearly a great deal to do and we look forward to discussing the finer detail of the proposal with government in the coming days.”
At the end of 2008 the number of cars over ten years old was 9,528,582 and the number of light commercial vehicles is 993,731.
The scheme, due to start in May 2009, will see government offer a £1,000 incentive to be matched by participating vehicle manufacturers when scrapping a taxed, insured and MOT’d car or van over ten years old which they have owned for at least one year.
But some older cars will definitely not be offered as part of the deal!
“This is good news for consumers and will get people back into showrooms, kick-starting demand in the market,” said SMMT chief executive Paul Everitt . “The scheme recognises the economic value of the motor industry and we are determined to make it a success. There is clearly a great deal to do and we look forward to discussing the finer detail of the proposal with government in the coming days.”
At the end of 2008 the number of cars over ten years old was 9,528,582 and the number of light commercial vehicles is 993,731.