Scrappage scheme reaches halfway mark

”Scrappage

Official figures released today show that orders for the scrappage scheme have reached 154,927.

£300 million was put aside from the Government, along with the matched funding from manufacturers - enough to fund 300,000 transactions. Consequently, over half of the money within the scheme has been spent.

The Government’s car scrappage scheme, branded ‘bangers for cash‘ was launched on 18 May and pays consumers £2,000 to get rid of their old cars and replace it with a more environmentally friendly car.

The scheme has so far proved successful with a rise in UK car sales in July - the first monthly increase in sales since April 2008.

Business Secretary, Lord Mandelson, said: “I’m pleased that we have already achieved over 150,000 new car orders. This is a great deal for manufacturers and dealers, not to mention the customers.”

The regional breakdown shows that the highest take-up of the scheme is in the South East at 18%. The East of England (12%), the North West (11%) and the South West (11%).

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