Was,The,Government,Scrappage,S car Was The Government Scrappage Scheme Really A Success?
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It was just around a year ago that the motor industrypleaded for government help! Manufacturers were certain theyd go bust and wereurgent for the government to do something about it.The recession hit all industries small and large but nobodybuying new cars meant manufacturers were in great peril. So in May of 2009 thegovernment introduced the car scrappage scheme How Did It Work?When purchasing a new car, there was the option to trade inyour current vehicle (providing it was over 10 years old) to be scrapped and inreturn you would then receive a 2000 pounds discount off a new car!The idea was that it would encourage people to buy new carsand remove older (less eco friendly) cars from the road.The government funded scheme ended last month and resultshave shown it proved to be very successful. SMMT (Society ofMotor Manufacturers and Traders) recently released the final figures of thescheme which showed that almost 380,000 vehicles were sold through theinitiative!Though it may have been a success for some, it appears itmay not have helped everyone.Just over a year ago Im sure if you looked in your localbusiness directory, you would have found over a dozen ads such as We Buy Cars forScrap.Plenty of small business provided a scrappage service tolocal customers, if you look now however , there are a very limited number ofadds and my guess would definitely be that the scrappage scheme did very littleto help these companies. The scrappage scheme would have made it very hard for thesebusinesses to acquire vehicles and turn over a profit.And Im sure used car sales would also have beendramatically affected by the scheme.So was it really a success?Well although the scheme contributed to 20% of sales duringits run it, it also caused used car prices to increase dramatically.Now the scheme has come to an end, many manufacturers areproviding a swappage scheme which is basically their own version of the governmentsscrappage scheme.At current sales of new vehicles continue to rise howeverits believed that there will be a fall in new car sales and a large rise inthe sales of used vehicles.The March 2010 official figures of sales should show thecontinued rise. It will be the 9th consecutive monthly rise for newcar sales, previous to this continuing rise we saw 15 months of decrease.So in conclusion, to many the government scrappage schemewas a huge success! Consumers received huge discounts on new car prices,manufactures received a massive sales increase and plenty of old eco nasty carswere sent to the crusher!But to a number of small businesses, the scheme was nothingbut a problem! And theres no guaranteethat now the government scrappage scheme has ended vehicle sales wont justplummet back to where they sat at the start of the scheme.So its uncertain what is about to happen with the sales ofnew and used cars but there is bound to be a massive interest in upcomingfigures!
Was,The,Government,Scrappage,S