Scrappage Scheme Extension

Although hailed as the reason for the uptick in car sales in recent months, the government’s scrappage scheme has of course always been subject to a shelf life.  As the money has started to run out, industry figures have been calling for an extension to the scheme, crediting it with turning around 15 months of falling sales. The Society of Motor Manufacturers and Traders (SMMT) met with Business Secretary Lord Mandelson recently to ask for a further £200million in funding as, of the original 300 million made available, two thirds has already been claimed and the scheme will run out of juice in November.  The extra cash injection would allow the scheme to continue until February.