KEY HIGHLIGHTS
- Vehicle Scrappage Policy 2024 chalked out
- Automakers agree to offer discounts to owners of scraped vehicles
- Offer valid for a limited time frame
Road and Transport Minister, Mr. Nitin Gadkari has announced that the automakers have agreed to offer discounts and benefits to the owners scrapping their older vehicles which have breached their validity period of 15 years. This comes as a sigh of slight relief for those at the receiving end of the scrappage. However, there are some pointers that you must know in-depth for a much clearer picture. But before that, make sure to join our 91Wheels Whatsapp Channel, specifically curated for all the avid petrolheads with extensive coverage of the latest news and insights from the automotive space.
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What Is Vehicle Scrappage Policy
In August 2021, the Indian government launched a program aimed at removing old and unfit vehicles from the roads to foster a cleaner and safer transportation environment. The initiative, detailed in the Voluntary Vehicle-Fleet Modernization Program handbook, seeks to cut air pollution by 15-20%, contributing to the goal of a carbon-free nation. It is also expected to boost job creation in scrapping centers, enhance safety standards with the introduction of newer vehicles, stimulate demand for new vehicles, and reduce overall emissions as new cars will meet updated emission standards.
Now, the updated Vehicle Scrappage Policy 2024 has been chalked out and there are some incentives waiting for the buyers of new vehicles. However, there are some finer details that you need to know. Firstly, according to news sources, the discount offered will be either 1.5% of the vehicle's ex-showroom price or Rs 20,000, whichever is lower, for trading in a scrapped vehicle. On top of this, the vehicle must have been scrapped within the past 6 months to qualify for the discount; earlier scrapped vehicles will not be eligible. This is something very crucial to note and time your scrappage accordingly (or your purchase). Next, the discount is available for a limited period of 1 year, though car manufacturers may choose to extend or adjust the offer as they see fit.
While reports indicate that automakers like Maruti Suzuki, Tata, Mahindra, Hyundai, Kia, Honda, Toyota, VW, Skoda, and MG are expected to offer these discounts, official confirmation from these brands is still pending. Additionally, Mercedes-Benz is reportedly offering a flat discount of Rs 25,000, which exceeds the Rs 20,000 cap mentioned for other manufacturers.
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Can I Extend The Validity Of My 15-Year-Old Vehicle? Yes, You Can!
While these scrappage benefits apply only to private vehicles that are over 15 years old. If you wish to retain your car beyond this period, it must pass a mandatory fitness test. Should the vehicle fail this test, you are permitted one re-test after necessary repairs. If it fails again, the vehicle must be scrapped. So, there's still hope for your age-old vehicle that's near to your heart for a lifesaver. But remember, you have just one shot at it.
Verdict
Let's be honest. Scrapping your vehcile sucks. For everything you go, you car goes through it with out and those who love their cars, cosider it as anb extion of their being. But for the better good of the environment and the kind of averse effects aeging vehicles have on the air around us, this sacrifice is a must. However, these offers and benefist that the governement and the automakers are provoding would help soften the blow and offer some respite to the owners.
