The Government car scrappage scheme has entered its exit-phase this week, as car manufacturers implement the quotas set by the Department of Business, Innovation and Skills.
Announced by Business Secretary Lord Mandelson, the final phase of the car scrappage scheme began on 24 February.
BIS has now allocated potential order quotas to manufacturers, depending on brand popularity. The more popular manufacturers receive the higher quotas. BIS has based the quotas on the 2009 Private Retail Sales figures from May to December. According to the data given for the whole of 2009, Ford was the most popular manufacturer.
Recently the scrappage scheme was given a month extension and is now due to finish on 31 March or when the funding runs out. (See MRW story) Currently, there are less than 45,000 potential orders left.
Lord Mandelson said: This is the last orders for the scrappage scheme. Car owners need to move quickly to avoid disappointment if they want to buy a new car at a discount.
Industry figures have showed again and again the benefits that the scrappage scheme is continuing to deliver to the automotive sector and beyond. It is great news that in January scrappage helped the industry to achieve its biggest output gain since May 1967.