Scrappage fund empties
August 3rd, 2009 by Richard Aucock
FIGURES released today show the scrappage scheme is nearing the half-way mark – four months after launch.
Latest stats from the Department for Business Innovation and Skills show that 144,308 new car orders have been placed under the scheme.
The Government has stated that the total amount of funding is for 300,000 cars – this is in place until February 2010…
… Or, until funding runs out!
At this rate, the funds could be exhausted by the end of the year, such is the positive feedback from many new car dealers.
It remains to be seen whether the Government will extend the scheme; right now, it is stating no extensions will be made.
Certainly, there are question marks surrounding both the scrappage scheme and the new car market once it ends.
But, at the traditional ‘new car date’ for many UK buyers, it is encouraging to see the market has at least been stimulated.
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Tags: bis, government, new car scrap, scrappage