On today's announcement of Vehicle Scrappage policy please find below the statement attributed to Mr. Vinkesh Gulati, President - Federation of Automobile Dealers Associations (FADA)
“The Central Government had announced scrappage policy during the budget speech of Hon’ble Finance Minister Shri Nirmala Sitharaman ji. Only fine prints of the same were awaited which today, has been announced by Shri Nitin Gadkari ji.
Indian automobile industry has already upgraded to one of the most advanced emission standards. While new vehicles will be least polluting, vehicles which are old creates enormous pollution with least safety standards will now be eligible for scrappage thus making roads safer and air cleaner. The guidelines and advice announced today are in the right direction and now, the State Governments and OEMs have to do their part to make it a success.
Scrappage value of vehicle in range of 4-6% of the ex-showroom price, rebate of upto 25% for PV and 15% for CV by State Governments on Road Tax, 5% discount from OEM’s on new vehicle and registration fee being waived off will definitely help to excite the customer and motivate him to scrap his old vehicle. It will also revive the ailing CV segment and in turn will boost State exchequer’s revenue on sale of new vehicles.”
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