The Society of Motor Manufacturers and Traders (SMMT), the voice of the UK's auto industry, said the extension "will help to stimulate demand, giving more consumers access to it, and create a bridge to a period when economic growth is strengthened and more sustainable." The automakers are happy. Nissan, for example, is keeping its trade-in offer active. The deal means anyone with an eligible old car could buy a new Micra supermini for just £6,395.
On the other side of the coin, the Environmental Transport Association says that the scrappage scheme is too expensive for the amount of carbon it could reduce. ETA director Andrew Davis said:
Car scrapping initiatives are often mistakenly labelled as green because they subsidise the purchase of cars that are usually, more fuel-efficient than those they replace, but the schemes are by their nature wasteful and routinely fail to take into consideration the amount of energy required to build a vehicle in the first place.
Thanks to Jon for the tip!
[Source: BBC, SMTT, ETA]