UK car industry could adopt scrapping scheme

Mon, 16 Feb 2009



The hard-hit UK car and car finance industry could be forced to adopt a car scrappage scheme that has helped to boost ailing car sectors in other countries. The UK motor industry has been slammed by the recession, with new car sales slumping. A European Commission summit will take place today on the issue.

Representatives of all the major car economies in Europe will meet to share tips on initiatives to boost falling car sales . One scheme is to offer cash incentives to people to upgrade their old cars to get newer, green vehicles .

Several car companies have already made people redundant, and many more are planning to do so. Mini are expected to lose hundreds of jobs this week. Bentley also joined car companies such as Ford, Nissan and Jaguar Land Rover in making redundancies this week.

The SMMT apparently supports a scrappage scheme.
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