SMMT supports scrappage
February 24th, 2010 by Richard Aucock
SMMT support has been granted to the BIS managed rundown of the scrappage scheme which starts today.
‘It ensures the fairest means of distributing the remaining scrappage funding,’ sys the car industry body.
‘The quota system will ensure an orderly end to the scheme with buyers and manufacturers both having a clear understanding of available funding. ,’ said chief exec Paul Everitt.
He confirmed that 80 percent of remaining funds will be handed out during Phase One. This is based on retail sales between May-December 2009. After some time, not yet set by BIS, the remaining 20% of the funds will be distributed based on sales performance during Phase One.
‘Just 40,000 more consumers can benefit from the remaining funding, so we urge those thinking of taking advantage of the scheme to place their order at their earliest opportunity.’