Nitin Gadkari announces discounts for buyers of scrapped old cars

Automakers offer discounts to customers who choose to scrap their vehicles

In a recent statement, Indian Minister of Road Transport and Highways Nitin Gadkari announced that several automakers will offer discounts to consumers who choose to scrap their old cars for new ones. The move is part of a broader effort to promote circular economy practices and encourage a shift to cleaner, more efficient vehicles.

According to Gadkari, commercial and passenger vehicle manufacturers will offer discounts of 1.5% to 3.5% to owners of old vehicles that are scrapped. The move is aimed at supporting the government’s goal of reducing vehicle emissions and improving road safety by replacing old, polluting vehicles with new ones.

Earlier, Vinod Aggarwal, president of the Society of Indian Automobile Manufacturers (SIAM), had stressed the need for more substantial incentives to increase the impact of the existing scrappage policy, which has not significantly affected vehicle replacement rates.

The introduction of these rebates is expected to provide financial incentives for vehicle owners to participate in scrappage schemes, furthering the goals of a circular economy and promoting environmental sustainability.

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