Taxi call for scrap
September 23rd, 2009 by Richard Aucock
LTI CEO John Russell is the latest UK chief to call upon the Government for an extension to the scrappage scheme.
His plea comes as figures show that 1 in 5 London Taxi sales have been down to scrappage recently.
‘LTI Vehicles is an excellent example of the success of the Government’s scrappage scheme and a reason to extend its operation in the current economic conditions,’ said the boss of LTI parent company Manganese Bronze Holdings.
It has ‘supported sales volume through one of the deepest recessions in living memory.
‘With dealerships across the UK, we are calling on the Government to extend the scrappage scheme, while the automotive market remains fragile.’
Funds are expected to run out next month. But this is not the only impending hit for new car buyers, warned Russell:
• 1 January 2010 – expected rise in VAT to 17.5 percent
• April 2010 – new first year Road Fund Licence regime: + £740 to a new taxi’s cost
LTI Vehicles, added Russell, will thus be meeting and writing to a number of key stakeholders to seek support for the industry’s call for an extension to scrappage.
LTI fires entire UK dealer network
Tags: government, lti, new car scrap, scrappage