The scrapping incentive policy, announced by the Ministry of Road Transport and Highways (MoRTH) on Thursday, won’t have a meaningful impact on new vehicle sales, according to industry executives and transport experts. They said the actual number of vehicles available for scrapping is almost a fourth of government-estimated volumes.
According to the MoRTH’s estimates, India has 5.1 million light motor vehicles which are 20-year-old or older; those above 15-year-old are estimated at 3.4 million. The ministry estimates the volume of M&HCVs (medium and heavy commercial vehicles) ...
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