Vehicle Modernisation Programme to boost CV sales
In addition, about two lakh CVs would get scrapped and replaced in the normal course through the three fiscals, given the current junking rate of about 67,000 CVs annually. Hence total vehicles opting for the scheme would be 6.4 lakh.
Binaifer Jehani, Director, CRISIL Research, said, ?Transporters scrapping old CVs, are not buyers of new CVs, since their business is viable using only an older truck. Considering this, the government needs to either provide a cash discount to those junking old vehicles or make the V-VMP incentive certificate issued to transporters tradable.?