29th April 2010
Scrappage scheme stimulates Motor Industry
A report from the Society of Irish Motor Industry earlier this month indicates that official figures for new car sales in March 2010, which at €13,813, are up by 78% on March 2009 (€7,764,00) according to Meath East TD Mary Wallace.
Deputy Wallace stated “I was delighted when the Minister for Finance announced the scrappage scheme that would allow those participating to avail of VRT relief of up to €1,500 per new car purchased when trading in a car 10 years or older. This scheme has clearly benefited the motor industry and the consumer”.
Deputy Wallace continued “I have asked the Minister for Finance Brian Lenihan to outline how people may qualify for the car scrappage scheme. I hope you find his response (below) of assistance.“
The provisions of the car scrappage scheme as set out in Section 102 of the Finance Bill as published on 4 February 2010, provide for a scrappage scheme to run from 1 January to 31 December 2010. VRT relief of up to €1,500 will be available where a person purchases a new category A car of emission Bands A or B (i.e. with CO2 emissions of 140g/Km or less) and an old car is scrapped.
The provisions also provide that in relation to the car being scrapped, the car:
• must be registered in the State in the name of the registered owner of the new car for at least 18 months previous to the date of scrappage;
• must be 10 years old or more from the date of first registration;
• must be scrapped on or after 10 December 2009 and not later than 31 December 2010;
• must be scrapped within 60 days of the date of the new car being registered, or have been scrapped within 60 days immediately before the date of the new car being registered;
• must have a valid NCT test certificate, or one that has expired no more than 90 days immediately before the date of scrappage or documentation to indicate that it has been presented for and failed an NCT roadworthiness test in the previous 6 months;
• must have been insured for use on the road in the name of the registered owner or in the name of the spouse of the registered for at least 12 months in the18 months immediately prior to the date of scrappage.
Ends