Currently reading: Hyundai's new scrappage scheme
Firm plans to avoid dip in sales by launching its own scrappage scheme

Hyundai is launching its own scrappage incentive scheme to ensure it doesn’t suffer a significant drop in sales when the government-backed scheme ends.

Hyundai has been second only to Ford in scrappage sales so far having sold more than 33,000 vehicles. Its new scheme, Trade & Upgrade, mirrors the government scheme by offering a £2000 discount off a new car when trading in a car between seven and 10 years old.

Tony Whitehorn, Hyundai UK’s managing director, said: “We have learnt some valuable lessons from the 33,000 people who have bought cars from us under the scrappage scheme.

“They love transparent pricing. They hate haggling. And if they see a good deal they will snap it up. What we are offering post-scrappage will build on this experience and will change the way cars are bought in the UK forever.”

Hyundai is also offering people who own an i10, i20 or i30 the chance to trade it in for a 10-registration model under its Happy Returns scheme. The customer contribution for an i10 plus their current car is £499. An i20 will cost £599 and an i30 £749.

The final scheme Hyundai is offering is Friends and Family. Under this, all 33,000 people who have bought a Hyundai under scrappage will be sent a £250 voucher to pass on to someone to spend on any new Hyundai.

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roverfan1984 26 January 2010

Re: Hyundai's new scrappage scheme

In theory if they kept this scheme up forever people could just buy a new Hyundai every 7 years & get a guaranteed £2000 back for their old one, & never get out of warranty! I loathe the idea of disposable motoring myself but I guess that could be very appealing to a lot of people who just want hassle-free A-B transport. (He grudgingly says!)

Mini1 25 January 2010

Re: Hyundai's new scrappage scheme

Good range of deals, I must say. It'll be weird seeing 10 reg cars on the roads soon!

tannedbaldhead 25 January 2010

Re: Hyundai's new scrappage scheme

J400uk wrote:
Surely it will have quite an adverse effect on the residuals.

From an anecdotal perspective (ie most people I've noticed driving them) the majority of Hyundai owners are quite elderly. If my mum is anything to go by (in that she has driven the same car for last 10 years and was not interested in changing but for i10s low purchase price and £2K scrappage on her worthless Suzuzki) the substantial proporetion of the cars in question will be kept by their owners till death us do part or till the owner is no longer fit to drive. In those circumstances residual values are not an issue.