Scrappage Scheme Is Great Success

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Publish date: 2009-12-23

The latest figures on scrappage scheme under which new cars can be purchased have been revealed. The details look more than good and the scheme can already be declared a great economic success. It did manage to boost sales and production of new cars. The number of new cars registrations reached the level of 250.000 from May until November. The high efficiency of the scheme is additionally confirmed by the sales data from November which was the next month to see an increase of over fifty percent in sales of new cars, with the financial aid program accounting for more than twenty percent of all new registrations. The only minus of the scheme can be seen in the business fact that it is used mainly for cars and there are not many trucks or vans purchased under it. New cars comprise an estimated 98.5 percent of all vehicles processed via the scrappage scheme. Now when the financial aid is about to end at the beginning of February 2010 everyone seems to be a little bit worried about its impact on the overall market situation. The Society of Motor Manufacturers and Traders, SMMT in short, has already called on the government to help support the automotive industry and assist further in the market recovery. The SMMT also stressed the fact that private purchases are very important in keeping the industry afloat at now.

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