Figures released today show that over half of the money put aside by the government to support it’s car scrappage scheme has already been used, 155,000 motorists have now taken advantage of the scheme that offers a £2,000 discount part funded by both the government and the manufacturer.
The government have made £300million available for the scheme, enough to fund 300,000 transactions.
Business Secretary Peter Mandelson says the scheme has been a great success, “A great deal for manufacturers and dealers, not to mention customers.” he said when announcing the news, adding that the scheme has contributed to 13.5% increase in car manufacturing.
Despite the boost to the market car sales remain over 22% down on the same period last year.
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