Scrappage scheme closes on near 380,000 orders

The scrappage scheme took a total of 372,401 orders by the time it closed on March 31, the latest data from the Society of Motor Manufacturers and Traders (SMMT) has revealed.

The latest figure orders through the scheme just undercut the maximum vehicle incentives allowed-400,000. In March alone, the scheme accounted for 12.2 per cent of all new car registrations and 3.2 per cent of the total van market. 

The scheme has been largely credited with helping to drive down the CO2 emissions of cars on the road with the average CO₂ emissions of a car bought through the scheme standing at 132.9g/km, 27.1 per cent below a scrapped car’s figure and 9.6 per cent below the overall new car market average. The average CO₂ emissions of an old car scrapped through the scheme is estimated to be 182.2g/km (based on weighted segment data for 1997 vintage cars, with the average age of scrapped cars being 12.7 years). Supermini models accounted for 58.5 per cent of all cars registered through scrappage during May 2009 to March 2010, compared with a 38.1 per cent share taken within the overall market. Likewise, the mini segment took a 13 per cent share of scrappage registrations, compared with a 3.9 per cent share of the overall new car market over the same period. Petrol cars accounted for 83 per cent of cars bought through the scheme over the May to March period, compared with 58.4 per cent in the overall market.

In total, car and van orders though the scheme which ran from May 2009 until March 2010, came to 378,978.

Commenting on the data, SMMT chief executive Paul Everitt said: “The scheme has provided a hugely important stimulus to the market and leaves industry in far better health than we saw in pre-scrappage 2009. Consumers will also benefit from the improved fuel efficiency, the latest safety features and cleaner tailpipe emissions available from the new vehicles purchased through the scheme.”

Since May 2009 the scheme has accounted for 18.7 per cent of total new car sales.

Author: Faye Sunderland, April 12th, 2010
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