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Car scrappage scheme closes
The Government’s vehicle scrappage scheme has come to an end after at least 330,000 cars were purchased under the initiative.
According to official figures out today, scrappage sales accounted for a fifth of new car registrations since the £400m scheme was launched in May last year.
It is thought that around 4,000 jobs in the auto industry were protected by the scheme, which was designed to boost car sales during the recession.
‘I am pleased to see scrappage has delivered the results we aimed for – not just for manufacturers, but for the whole industry and its supply chain,’ commented the Business Secretary Lord Mandelson.
‘The figures show that this scheme gave vital support, boosting demand when the industry needed it most, helping to position the auto sector to meet the challenges of building a strong low carbon future.’
Under the scheme, consumers who traded in a car older than 10 years were offered up to £2,000 off the price of a new model.
A Government survey suggests that cars bought through scrappage had average CO2 emissions of 133g/km – 27% lower than the average CO2 of scrapped cars.
Meanwhile, more than half (56%) of those questioned said they would not have bought any vehicle at this time if the scrappage scheme had not been introduced.