The Central Government’s voluntary scrappage which sees vehicles older than 15 years being taken off the road in favour of newer cars is likely to get a boost from the automakers. They are now considering offering discounts on new vehicles to those who voluntarily retire their non-compliant cars in favour of new ones.
Sources suggest that those who opt to scrap the older vehicles could take advantage of a bunch of incentives including tax rebates. Dubbed the voluntary vehicle modernisation scheme, automakers have now realised that for it to materialise completely, they would have to throw their weight behind it.
The introduction of this scheme would have far reaching benefits. Apart from improving emission standards, it would create more jobs both in the auto and recycling industry due to increased demand.
The scheme has been in the works for a while now and would Reports suggest that the government is awaiting a final report for the same from the consultancy firm AT Kearney but the process could take another six months at least.
