A number of sources close to the magazine have confirmed the announcement is likely to be made by the Department for Business, Innovation and Skills at 9am.
Car Dealer understands there will be no extra money pumped into the scheme – only a revised date for it to finish, that being the end of March instead of the end of February.
The reasons for the revised date are unclear but it’s likely there will be enough cash in the pot to last the extra month.
Take up of the scheme has been slowing down in recent months and the added time will likely allow the tail-end of the scheme to run its normal course, rather than BIS being forced to ration manufacturers. The scheme was due to finish at the end of February.
BIS confirmed to Car Dealer that an announcement about the ‘exit stage of the scrappage scheme’ will be made tomorrow, but would not confirm the details of our story as correct.
Car Dealer’s next issue is dedicated to life after scrappage so this extension will allow dealers more time to soak up our advice! Subscribe now to make sure you get a copy.
By JAMES BAGGOTT