India: Auto manufacturers may provide additional 5% rebate under scrappage policy

The Transport Ministry holds consultations with the industry stakeholders in relation to the Scrappage Policy. “Consumers who would junk their old vehicles and buy a new one under the Vehicle Scrapping Policy, are likely to get about 5% rebate on the new purchase by the auto companies”, stated by the Union minister, Nitin Gadkari. Also, 10-20% discount will be recommended by the Centre on road tax to States and vehicle registration charges to be most likely waived off.