Eicher launches programme to incentivise customers scrapping old vehicles

Eicher Trucks and Buses, a business unit of VE Commercial Vehicles, on Thursday said it has launched a programme to incentivise customers for scrapping old vehicles to purchase new trucks and buses.

Under the terms of the scheme, buyers of new vehicles holding a valid 'Certificate of Deposit' from any recognised scrappage center can receive incentives ranging between 1.25 per cent to 3 per cent of the base vehicle cost of a vehicle with payload or seat capacity equivalent to the scrapped unit, the company said in a statement.

In case equivalent vehicles are not available, it would be possible for customers to purchase trucks or buses with immediate higher or lower tonnage or seating capacity, it added.

The programme is valid from September 1, 2024, and will run for a period of 2 years or until further notice, the company stated.

"The forward-looking Vehicle Scrappage Policy by the government represents a transformative step towards promoting a circular economy and encouraging the use of cleaner and safer vehicles," VE Commercial Vehicles (VECV) MD and CEO Vinod Aggarwal said.

VECV is fully-aligned with the policy, and the initiative aims to incentivise operators of old vehicles of any brand to transition into Eicher's range of modern, safer and environmentally friendly vehicles, he added.