look news india
Union Road Transport and Highways Minister Nitin Gadkari on Tuesday announced that auto companies will offer discounts on scrapping old cars and buying new cars ahead of the festive season. The Union minister said many commercial and passenger vehicle manufacturers have agreed to offer discounts on the purchase of new vehicles instead of scrapping old vehicles with valid certificates.
This initiative will significantly advance our circular economy efforts. It will ensure that we have cleaner, safer and more efficient vehicles on our roads.
In fact, Nitin Gadkari attended a meeting of the CEO delegation of SIAM where on his suggestion some commercial and passenger vehicle manufacturers agreed to the proposal to give discounts on the purchase of new vehicles after scrapping old vehicles.
How much discount will be available on the new car?
Let us tell you here that in the year 2022, the Central Ministry had sent an advisory to the automobile unions directing them to give their members a discount of up to five percent on the purchase of a new vehicle in exchange for scrapping old cars. However, the companies have agreed to give a discount of up to three and a half percent. According to the latest reports, major auto companies can give a discount of one and a half to three and a half percent to their customers on buying new vehicles by scrapping old vehicles. However, the SIAM chairman said that the scrap policy is already in place but its effect is not visible much. The government cannot do anything more for that.