Hot on the heels of my recent post about the success of Germany’s car scrapping incentive scheme, it seems that a UK equivalent is increasingly likely.
According to a report in The Times at the weekend, the deal would involve buyers of cars up to one-year old receiving a discount of £2,000 in exchange for scrapping their existing car at an approved car scrapping plant. Cars being scrapped will have to be at least nine years old, as with the German scheme.
It seems that the deal is likely to be announced as part of the Budget, on April 22nd. The SMMT (motor traders’ industry organisation) estimate could generate up to 250,000 additional sales.
What do you reckon? Will it encourage you to buy a new car?