29 June 2011

Scrappage Scheme was 'very helpful'

The Scrappage Scheme extension which ends this week will probably have resulted in 15,000 cars sold under the scheme for 2011, says Alan Nolan of the Society of the Irish Motor Industry.

Speaking this morning he noted this is on top of the 18,000 sold under the original scheme for 2010.

He said it had been a 'very helpful' scheme from the State, which had resulted in the restoration of many jobs, but which will also have given the State an extra €100m in motoring taxes over its life.

Mr Nolan also said that the issue from here on is to develop confidence in the community to spend more in the general economy. But he said this would require creating the environment where people will have such confidence.