Mitsubishi Debuts 5-Year Scrappage Programme

Just after the United Kingdom announced government incentives for people who are willing to give up their old car in exchange for a new and less-polluting vehicle, Mitsubishi goes one step further and rolls out a new scrappage scheme in the country. Basically, Mitsubishi has extended its participation to include cars of 5 to 10 years old, a move which is believed to increase the company's revenues following the country's scrapping bonus.

"We have had immediate and resounding success with the Government’s scrappage scheme, with over 21% of our dealers’ May orders coming through the scheme. To help maximise on this momentum, we have decided to launch our own scheme, which means a customer can bring in a car as young as 5 years old to any participating Mitsubishi dealer," Mitsubishi Motors’ UK Director of Sales and Marketing, Toby Marshall said.

Mitsubishi says approximately 17 percent of new car sales in the country are sourced from this scheme, with consumers allowed to choose a financing period of 12 month to 5 years, deposits starting at 10 percent and interest rates of 0 percent.

Additionally, Mitsubishi announced the company secured 100 million pounds through Finance Mitsubishi, the financing division belonging to the Japanese manufacturer, to provide financial assistance to buyers with or without the scrapping bonus.

The UK government incentive programme has already boosted sales in the country, with several automakers reporting increasing sales, partially thanks to this bonus. Furthermore, companies are already reporting the first signs of recovery, with some of them even turning to additional production shift to face the increasing demand for particular models.