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NewsScrappage scheme 'has boosted new car sales'
Scrappage scheme 'has boosted new car sales'
The government's car scrappage scheme has resulted in a rise in new vehicle registrations, the Society of Motor Manufacturers and Traders (SMMT) has said.
According to the organisation - which aims to support and promote the interests of the UK's automotive industry at home and abroad - such registrations increased by over 57 per cent last month.
This surge occurred as people rushed to take advantage of the incentive, which is due to come to an end in February 2010 or when its funding runs out.
SMMT chief executive Paul Everitt said: "The increase in new car registrations ... reflects the positive impact of the scrappage incentive scheme, customers avoiding the VAT increase in January and the very difficult conditions that we experienced a year ago."
The scheme accounted for more than one in five of the 158,082 vehicles registered last month, the society revealed.
Under the terms of the scrappage deal, car buyers can receive a discount of £2,000 on their motor of choice if they trade in vehicles which are at least a decade old.
09/12/2009 14:46
News category: Motoring