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Hyundai wins on UK scrappage sales

Hyundai wins on UK scrappage salesThe £2,000 Government sponsored incentive scheme to trade in old polluting cars over ten years old against newer models has resulted in over 8,200 new orders for South Korea’s Hyundai Motor Company. The biggest seller for Hyundai was the i10, an entry level model, which with the £2,000 discount applied is available for less than £5,000. Hyundai’s biggest problem now is getting enough stock to satisfy demand, with dealers quoting a two-month wait for an i10.

Hyundai 8,246
Ford 8,050
Toyota 7,800
Kia 7,300
VW 4,591
Vauxhall 3,909
Nissan 3,202
Renault 2,600
Peugeot 2,500
Citroen 2,500
Honda 2,335
BMW/Mini 1,722
Mazda 1,355
Volvo 1,161
Chevrolet 950
Source: Reuters

As of 7th June, over 60,000 vehicles had been sold over a direct result of the scheme’s launch according to government released figures. Other manufacturers who are winners as a result of the scrappage scheme are Ford with 8,050 sales and Toyota selling over 7,800 vehicles sold. More than ninety percent of the vehicles were sold were smaller, more efficient cheaper cars with lower CO2 emissions.

Vauxhall, Toyota, Suzuki and Kia are also reportedly doing very well on the unofficial mid-month figures, benefiting from strong demand for the cheaper cars in their ranges. As well as fuel efficiency, buyers may be choosing cheaper vehicles so that the Government and car manufacturer discount makes a bigger impact on the total cost of the vehicle price. On lower cost vehicles, the scrappage discount can reduce the total car price by over thirty percent. The cheapest new vehicle available under the scrappage scheme is the Kia Picanto 1.0 with a subsidised price of £4,195 which does 57mpg and its CO2 of 117g/km is low enough for £35 road tax.

Small to medium family cars such as the Ford Focus, Toyota Yaris and Kia Ceed are also seeing a boost in sales, with many families looking to take advantage of the scheme and grab a bargain while the incentive is still available. Once the Government’s fund of £300m for the scheme runs out, i.e. when 300,000 vehicles have been sold or February 28th 2010 – which ever comes first, the scheme will end. The true impact of the scheme on overall car sales and the recovery of the car industry will be revealed in July, when official figures are released.

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2 Responses to “Hyundai wins on UK scrappage sales”

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