Scrappage Scheme News
Car Scrappage Scheme Extended!
The Car Scrappage Scheme which was due to end this month has been extended for up to a month, Business Secretary Lord Mandelson has announced.
So far some 330,000 have been ordered under the scheme. However, with a limit of 400,000 vehicles which can be scrapped, a further 70,000 people could still take advantage of the deal.
The Government… »
Record Car Buyers Speed To Showrooms Before VAT Rise
As the 15% VAT rate is set to return to the higher 17.5% rate at the end of this week, a record number of shoppers have hit the UK high streets, shopping centers and car showrooms over the Festive season.
On January 1st 2010 the VAT rate will return to 17.5%, meaning a £10,000 new car… »
Car Scrappage Rush Before VAT Rise
New car registrations were up 57% in November compared to the same period in 2008 as buyers rushed to take advantage of the Government’s car scrappage scheme before VAT reverts to 17.5% in the new year.
Of the 158,082 sales last month, 21.6% were attributable to the car scrappage scheme, which is due to end in February or… »
Car Scrappage Schemes Across Europe Drive Sales North
New car registrations across Europe increased 6.3% in September, thanks largely to car scrappage schemes in the continent’s major markets.
Sales rose to 1,388,136 as a result of double digit increases in four of Europe’s biggest five markets, with Germany leading the way in percentage terms and the UK in volume.
The European Automakers Association (ACEA) reported… »
UK Car Scrappage Scheme to be Extended Announces Mandelson
The UK Government has announced it is to extend its Car Scrappage Scheme beyond the original £300m allocation that was initially set aside.
Speaking today at the Labour conference in Brighton, business secretary Lord Mandelson said that the scheme, which is running out of money, would be extended to cover approximately 100,000 more cars and vans.
The… »
Car Scrappage Scheme Continues to Drive Sales North
The UK Car Scrappage Scheme continued to boost sales as per the previous month with new car sales for August increasing 6% a year-on-year to just over 67,000. UK car sales for July increased by nearly 2.5%, which was the first rise since April 2008.
August Car Sales – The Best Sellers
1 Ford Focus 4,366
2 Ford… »
Deloitte Claims Scrappage Funds Could End This Week
The Engineering Employers Federation (EEF) has called for the UK Government to extend the Car Scrappage Scheme or risk further jobs losses and a continuing recession in the British manufacturing industry. The EEF. which acts as a lobby group for the UK motor industry, warned manufacturers of a ‘w’ double-dip style recession if additional scrappage funds… »
Warning of Serious Blow to UK Car Industry
“If the scheme ends in October and is followed by a 2% increase in VAT in January it will be a serious blow to the British car industry that’s just getting back on its feet.” warns Paul Everitt, CEO – SMMT.
Executives from the motor industry met with Business Secretary Lord Mandelson last week and called… »
Car Dealer Lookers Calls For Scrappage Scheme Extension
Following on from Pendragon’s call earlier this week for the UK’s Car Scrappage Scheme to be extended, car dealer Lookers has also said it would like to see the scheme continue into next year.
The plea comes after the dealer announced half year profits of £8.6m, down from £13m last year. “The car scrappage scheme has… »
Scrappage Scheme Drives Car Sales to First Rise in Over a Year
New car sales in July rose year on year for the first time in 15 months as the Government’s Car Scrappage Scheme encouraged more buyers back into dealerships. Registrations rose 2.4%, the first rise since April 2008 and the Society of Motor Manufacturers and Traders (SMMT) were quick to declare the car scrappage scheme as… »