Industry News from Yes Insurance

Van insurance customers who are keen to get rid of their old banger may welcome calls for the government to introduce financial rewards for people who are willing to scrap ageing models.

The Society of Motor Manufacturers and Traders (SMMT) has put forward plans which would see anyone getting rid of cars and light commercial vehicles over nine years old offered £2,000 towards the cost of a new set of wheels.

It stated similar scrappage incentive schemes elsewhere in Europe had given the automotive industry a helping hand and removed older, less environmentally-friendly cars and vans out of circulation.

SMMT chief executive Paul Everitt commented: "Urgent action is needed to get consumers back into the showrooms and boost demand in the market."

Figures recently provided by the same group revealed new van sales in the UK were down 47.3 per cent for the month in January and 17.6 per cent for the rolling year.

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