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U.K. scrapping scheme injects interest into the car market

Ahead of next week's official launch of the UK vehicle scrapping scheme many car manufacturers have reported increased interest from showrooms and web traffic. While the scheme has received significant criticism across the board many will be encouraged to see a surge of interest ahead of the scheme although whether this will follow through remains to be seen.

The option to scrap your old vehicle and receive a discount of up to £2000 on a new eco-friendly vehicle appears to have caught the eye of a number of UK car owners. However, when you consider that many car manufacturers and car retailers in the UK depend upon consumer finance to bring in significant commissions there may be some downside to the apparent success of the scheme. There is a chance that consumer finance interest rates may arise if business levels fall off and margins come under pressure.

In truth nobody really knows how the UK car market will react to the launch of the scrapping scheme although all eyes are trained on the industry ahead of next week's launch. Many in the car industry believe this is the final throw of the dice for a number of retailers who are struggling to attract business and suffering significant cash flow issues.

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