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Car Loans - Car scrappage scheme saved jobs.

It seems that the government’s car scrappage scheme was not only a success regarding sales, but also for employees of the motoring industry. It has been reported that the scheme “saved 4,000 jobs”. Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders, stated it gave “a much-needed stimulus for the UK motor industry”.

It seems that the government’s car scrappage scheme was not only a success regarding sales, but also for employees of the motoring industry. It has been reported that the scheme “saved 4,000 jobs”. Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders, stated it gave “a much-needed stimulus for the UK motor industry”.

Since the scheme started, 391,316 vehicles out of the allotted 400,000 had been sold. However, there are reports claiming that a majority of the sales have been brought forward from 2010 and that the motor industry isn’t out of the woods yet.
 
Business Secretary, Lord Mandelson, says: "The figures show that this scheme gave vital support, boosting demand when the industry needed it most, helping to position the auto sector to meet the challenges of building a strong low carbon future."

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