Auto Majors Agree To Provide Discounts On Purchase Of New Vehicles Against Scrappage Certificate | Auto News

Union Road Transport and Highways Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry. 

“During this interaction, responding positively to the advice of Hon’ble Minister RT&H and recognising the importance of Fleet Modernisation and Circular Economy, multiple Commercial Vehicle Manufacturers and multiple passenger vehicle manufacturers have agreed to offer discounts for a limited period against a certificate of deposit (Scrappage Certificate),” the statement said.

It said commercial vehicle manufacturers are willing to offer discounts for a limited period of two years and passenger vehicle manufacturers are willing to offer discounts for a limited period of one year.

The statement noted that these discounts will further incentivise the scrapping of vehicles, thereby ensuring the plying of safer, cleaner, and more efficient vehicles on the roads.