According to estimates from the Government,
the
car scrappage scheme may have protected around 4,000 jobs in
the UK
auto industry. The government indicated that a massive annual
decline last March has been turned around into a strong increase in
the
vehicle sector .
The chief executive of the Society of
Motor Manufacturers and Traders, Paul Everitt, reportedly said
that the motor
scrappage scheme had given a: much-needed stimulus for
the
UK motor industry. Meanwhile, business secretary Lord
Mandelson, who spearheaded the scheme, commented: The figures
show that this scheme gave vital support, boosting demand when the
industry needed it most, helping to position the auto sector to
meet the challenges of building a strong
low carbon future.
Whether the
car finance and
vehicle industry still faces a challenge this year remains to
be seen.
