BREAKING NEWS

BREAKING NEWS

Scrappage scheme boosts UK car sales

Now Reading:

Scrappage scheme boosts UK car sales

Text size Aa Aa

Sales of cars in Britain have risen for the first time in over a year.

Manufacturers and trader said they were boosted by a government scheme to pay money to purchasers of new vehicles. In July sales were up 2.4 percent on the same month last year. But for the year so far new car registrations are down 22.8 percent on the same period last year. Since May buyers who scrap an existing vehicle that is ten years old or more have received a discount on a new car worth 2,000 pounds (2,350 euros). The UK government and car manufacturers are sharing the 700 million euro cost of scheme which is designed to stimulate sales and save jobs.