The popular UK car scrappage scheme has been extended for another month. The current scheme was due to finish in February but will now run until the end of March, although no extra funds will be provided.
The government said the extension would give dealers and manufacturers "more time to prepare for and operate the exit phase of the scheme".
Since the start of the scheme, the Government has put a total of £400m into the scrappage incentive. Over 330,000 new cars have been ordered under the programme and 70,000 people will still be able to benefit.
"Against the background of the economic downturn the scrappage scheme has proved a great success, driving UK car sales, protecting jobs and supporting the supply chain for car manufacture at a time when this sector needed it most," said Business Secretary Lord Mandelson.
"If you're considering buying a new car, you should place your order as soon as possible to avoid disappointment, because the budget is strictly limited."
It estimated last month that the initiative was responsible for about a fifth of all new car registrations since its introduction.
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Glenn Nutsey
04/02/2010
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