March 31, 2010
Time called on Government scrappage scheme
Time has been called on the Government’s popular scrappage scheme, car manufactures took their last orders yesterday.
The scheme was widely regarded as a success and was designed to boost the industry during the economic downturn.
400,000 customers were helped with buying a new car through the scheme, which accounted for 20% of all new car registrations.
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.