Market primed for Swappage scheme

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 (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.

SIMI say that the additional jobs would be worth an additional €50 million to the Exchequer.

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