Vehicle Manufacturers concern at the end of the government’s scrappage scheme18th June 2010
Vehicle Manufacturers concern at the end of the government’s scrappage scheme and return of 17.5% VAT. The SMMT announced that the UK Goverment’s vehicle scrappage scheme has had a beneficial effect on UK car production. The scheme which provided an allowance of £2000 for old vehicles traded in against brand new models has now finished. This combined with the increase in VAT from 15% back up to 17.5% is seen by many manufacturers as cause for concern as the growth in the UK economy remains sluggish at best.