Scrappage scheme: the latest manufacturer offers
The Government may offer a £6000 scrappage incentive, and many car makers are already offering up to £5000 off new cars. Here are the latest discounts...
However, it is far from certain that it will be implemented, or what final form it will take.
The proposal has been drafted by car manufacturers and retailers. However, it is not likely to even be considered until late 2020 at the earliest given that July's new car registrations are well up compared with the same month in 2019, as a result of pent-up demand from lockdown being handled by now-open retailers.
Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders, said: "The first thing Government wants to see is the true state of the new car market, and the crucial indicator of that will be in September, with the plate change. Only then will it consider if it needs to stimulate the market to protect jobs."
Hawes added that the Government's focus was likely to be on helping UK-based manufacturers such as Honda, Jaguar, Land Rover, Nissan, Toyota and Vauxhall, and added that a scheme focussed on electric and plug-in hybrid cars was unlikely because of the supply of these cars being restricted by manufacturing limitations.
Despite this, some car makers are already offering their own scrappage discounts to encourage motorists to trade older cars in for new, more efficient models, details of which are below.
To qualify for the schemes the car you're trading in must comply with Euro 1-4 emissions standards, which generally means it will have been first registered before 31 December 2009, although some schemes have been extended to cover newer cars, too.
Euro standards set the emissions limits for new cars; the first, Euro 1, was introduced in 1992. You can check the Euro emissions standard of your car https://www.gov.uk/co2-and-vehicle-tax-tools.
Click on to the following slide to find out what the city of London is offering...
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