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Vehicle Scrappage Scheme
May 2009Not so scrappy scrappage scheme for UK’s loyal van man!
There are positive signs appetite for the Government’s vehicle discount scheme, due to launch this month, could be greater than sceptics anticipate among van drivers. Data from Budget Van Insurance shows 39% of insured vans in the UK are over 10 years old and 46% of loyal British van drivers opting for Ford and Vauxhall models, over their global counterparts1.
Some critics report the scheme may not be adequate enough to kick-start the British car and van manufacturing industry as planned. With van registrations down 46%2 in April, it’s no surprise some manufacturers and dealers are fully supporting the scheme and offering bigger incentives than the minimum £2000 discount available on new vehicles.
Mnveer Arkan, Budget Van Insurance said: "While it’s totally unrealistic to expect the government’s discount scheme to tick everyone’s boxes, the British economy needs as much assistance as it can get at the moment. With an ageing van population on our roads, this could be just the financial incentive needed to help us all get back on track."
Full details on the government's vehicle discount or 'scrappage' scheme can be found at:www.direct.gov.uk/discountscheme
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For further information please contact:
Roland Cross/Lizzie Hannaway
Broadgate
020 7726 6111
1: Data from Budget Van Insurance, as at March 2009
2: Vans: down 45.6% for the month and down 30.3% to 236,967 for the rolling year. Data taken from The Society of Motor Manufacturers and Traders Limited - www.smmt.co.uk/articles
Note to editors:
Budget Van insurance searches a panel of 12 insurers to offer competitively priced van insurance, in addition to exceptional product benefits. In 2006 Budget Van launched various innovative marketing campaigns including ‘it’s a van man thing’ and ‘flying traffic wardens’, which resulted in it being awarded ‘Marketing Campaign of The Year 2006’ (Insurance Times Awards). More recently Budget Van and News of the World have joined forces to produce the Dream Dates Calendar 2007.
Budget is part of the BGL Group.
The BGL Group
The BGL Group was founded in 1992 and has grown to become one of the UK’s largest personal lines insurance intermediaries.
Brands within the BGL Group include BUDGET car, van and home insurance, Bennetts bike insurance and carbon-neutral motor insurance, ibuyeco. Junction, BGL Group’s affinity business, works with brands like Post Office®, HSBC, M&S Money, RAC and Auto Trader to offer insurance products to their customers.
The BGL Group has more than 2.3 million customers and more than £600 million GWP. It operates major contact centre operations (Fusion) in Peterborough, Coventry, Sunderland, Peterlee in the UK, and Cape Town, South Africa. The Group currently employs over 2,150 people with its head office in Peterborough.
In 2006 the Group was named ‘Intermediary of the Year’ (Insurance Age UK Broker Awards) for its outstanding contribution to the insurance industry. In October 2007 the Group was ranked 229th in the Sunday Times HSBC Top Track 250 of Britain’s 250 biggest mid-market private companies by latest sales.
In 2007 the Group won the coveted title of Large Business of the Year in the regional Business Awards 2007 hosted by the Evening Telegraph, Peterborough. The Group’s affinity business, Junction, won Marketing Campaign of the Year 2007 at the Insurance Times awards.
BISL Ltd, part of the BGL Group is authorised and regulated by the Financial Services Authority.
Registered Address: Pegasus House, Bakewell Road, Orton Southgate, PE2 6YS.
Registered in England no 3231094
BGL Group websites: