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Scrappage scheme at half-way mark | Scrappage scheme at half-way mark |
(about 1 hour later) | |
Almost 155,000 new cars have been ordered through the government's scrappage scheme since it was launched in May, official figures show. | Almost 155,000 new cars have been ordered through the government's scrappage scheme since it was launched in May, official figures show. |
This means that more than half of the money set aside to fund the scheme has been spent. | This means that more than half of the money set aside to fund the scheme has been spent. |
Almost one-fifth of the orders were made in the South East of England. | Almost one-fifth of the orders were made in the South East of England. |
Analysts say the scheme contributed to the rise in UK car sales in July, which was the first increase in monthly sales since April last year. | Analysts say the scheme contributed to the rise in UK car sales in July, which was the first increase in monthly sales since April last year. |
'Great deal' | |
Announcing the news, Business Secretary Lord Mandelson said the scheme was "a great deal for manufacturers and dealers, not to mention customers". | Announcing the news, Business Secretary Lord Mandelson said the scheme was "a great deal for manufacturers and dealers, not to mention customers". |
"The scheme has contributed to a 13.5% jump in car manufacturing," he added. | "The scheme has contributed to a 13.5% jump in car manufacturing," he added. |
UK car sales rose 2.4%, to 157,149, in July compared with the same month last year, the latest industry figures showed last week. | UK car sales rose 2.4%, to 157,149, in July compared with the same month last year, the latest industry figures showed last week. |
But sales so far this year are still down 22.8% on the same period last year. | But sales so far this year are still down 22.8% on the same period last year. |
Under the UK scrappage scheme, a £2,000 incentive is paid to motorists who scrap cars registered before 31 August 1999 to buy a new car. | Under the UK scrappage scheme, a £2,000 incentive is paid to motorists who scrap cars registered before 31 August 1999 to buy a new car. |
Half of the money is paid by the government and half by the car industry. | Half of the money is paid by the government and half by the car industry. |
The government put aside £300m for the scheme, enough to fund 300,000 transactions. | The government put aside £300m for the scheme, enough to fund 300,000 transactions. |