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Car scrappage scheme ends today

The popular car scrappage scheme ends today with the last of the 400,000 car allocation set to be utilised. While the scheme has attracted much criticism from some areas of the UK there is no doubt it has been very successful, turning a 30.5% annual decline in car sales into a 57.6% increase over the car scrappage scheme period. The government also estimates that up to 4,000 jobs have been saved due to the increased business levels and activity within the sector.

However, even though there is little doubt that the car scrappage scheme has had a major impact on the sector as a whole and led to increased business levels, there is growing concern about the outlook for 2010. There is speculation that many people brought forward potential car purchases from 2010 to 2009 to make use of the car scrappage scheme allowance. As a consequence there are fears that we could see new car sales fall off the edge of a cliff in 2010 unless the UK economy pulls clear of the recession and returns to the boom times.

If the car industry appears to be struggling in the latter part of 2010 we may well see the reintroduction of the car scrappage scheme, no matter which political party is in government.

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