Economy, Domestic Economy
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Saipa Scrappage Program

Saipa Scrappage ProgramSaipa Scrappage Program

Saipa, Iran’s second largest carmaker is to implement a new plan to scrap dilapidated old cars in big cities and replace them with new vehicles. The manufacturer simultaneously aims to stimulate the auto industry and help reduce air pollution caused by old cars, Hasan Amoozadeh, the company’s head of marketing and sales, said on Tuesday. “The program started three years back and so far 20,000 clunkers have been scrapped by transportation and fuel management headquarters, a body in charge of controlling air pollution,” he said. However, owners have not been able to replace their old cars with new ones as banks have failed to provide them with promised loans, he added. Another 20,000 old cars are expected to be scrapped through the current program, and 1,000 new cars have so far been given to the owners.

Financialtribune.com