Shares in three of the UK’s largest car dealer networks jumped today, following the news that a decision to implement a car scrappage scheme could be made within days.
Read more on the government’s scrappage plans
The share values of the Pendragon, Inchcape and Lookers dealer groups all shot up in early trading, in prospect of the introduction of the government-sponsored cashback scheme.
The biggest rise was posted by the Inchape group, whose shares rocketed by 40 per cent, while Pendragon’s stock rose by 25 per cent and Lookers shares were up 15 per cent.
The trade-in incentive scheme would mean buyers of new cars get £2000 off the purchase price if they trade in a car at least nine years old.
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