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Major manufacturers end scrappage row

20/05/2009

The Government's scrappage scheme appears to be fully up and running, after some major manufacturers delayed involvement due to wrangles over tax.

Upon Monday's launch, manufacturing giants Ford and Honda had refused to register vehicles due to concern over details of the scheme, including VAT payments.However, the row was resolved yesterday following talks with the Government, and now 39 manufacturers - including all the high-volume firms - have signed up.

According to the Society of Motor Manufacturers and Traders (SMMT), which lobbied hard for a scrappage scheme, the arrangement now has the full backing of the UK motor industry.

Owners of cars or light commercial vehicles that are more than ten years old can use the scheme to get £2,000 off the price of a new model.

This subsidy is funded equally by the Government and the car manufacturer. It was designed to kick-start the ailing UK car industry, which has seen sales figures for each of the last 11 months down on the same time the previous year.

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