Market primed for Swappage scheme – Cartell.ie

The Irish car market is ripe for the introduction of a “Swappage Scheme” as proposed by the Society of the Irish Motor Industry (SIMI) in its pre-Budget submission, according to vehicle data experts Cartell.ie.

Cartell.ie analysis shows that the market is ready for the introduction of a VRT swappage scheme, or an equivalent scheme, as owners of pre-2009 vehicles struggle to purchase a new car.

Cartell.ie has welcomed SIMI’s proposal to introduce a vehicle “swappage” incentive to the market. A swappage scheme, whereby a VRT rebate of up to €2,000 would be given to the purchaser of a new vehicle where a vehicle six-years or older is traded, would encourage owners of pre-2009 vehicles to trade-in their vehicles next year in 2014.

Such a scheme, as with Scrappage, would have no cost to the State, indeed it should deliver an additional €80 million in VRT and VAT in addition to supporting some 2,200 extra jobs in towns right across the country, according to SIMI.

The additional jobs would be worth an additional €50 million to the Exchequer.