Auto scrappage incentive scheme: Stakeholders look at it with optimism and doubt

In the absence of any official data, the actual number of vehicles eligible for scrapping is not clear. Also, there is no clarity on whether the government will reimburse the discount of 4-6 percent on the ex-showroom price of the vehicle against a scrappage certificate.

The long-delayed and much-awaited scrappage incentive scheme announced by the government on March 18 has been received with a mix of optimism and doubt by the automotive industry.

While industry bodies which have been lobbying for a faster implementation of the scheme have welcomed the move, some automotive companies and analysts aren’t enthused by what is on offer. The scrappage scheme has been in the works for the past three years.

The full article was originally published on Moneycontrol