Following a rocky start yesterday the vehicle scrappage scheme is back on track. Both Ford and Honda raised concerns over who would pay VAT prompting both manufacturers to pull out of the scheme.
Today the Society of Manufacturers and Traders issued a statement saying that the final details regarding the scrappage incentive scheme have been resolved, and it has been given the full backing of car manufacturers. Commenting, SMMT chief executive Paul Everitt said: “The scrappage incentive scheme has the full support of the UK motor industry who will continue to work with government to ensure the scheme’s success. We are delighted to have 39 brands, including all the volume manufacturers, committed to the scheme enticing car buyers back into showrooms.”
Meanwhile CAP are reporting a record number of new car variants with 653 new variants added in April alone. With many of these aimed at reducing CO2 emissions there has never been a better time to buy a low CO2 car.
David Saville, NVD Quality Control Supervisor, said: “This is the highest volume of new variants ever added in a month. At the core of all these new variants appears to be the race to reduce CO2 as manufacturers seek to benefit from new tax rules in the company car market and attract private customers who wish to avoid punitively high VED rates. In particular there have been a lot of stop/start technology variants introduced by Volvo and Audi. We are also seeing many more special edition variants as manufacturers attempt to send a stronger value for money message into the current troubled new car market.”