Eicher Trucks and Buses, a business unit of VE Commercial Vehicles, has unveiled its program to incentivise customers to purchase new trucks and buses against valid Certificate of Deposit of old vehicles under the Government of India's Vehicle Scrappage Policy.
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 to 3 per cent of the base vehicle cost of a vehicle with payload or seat capacity equivalent to the scrapped unit. 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.
The program is valid from September 1, 2024, and will run for a period of 2 years or until further notice. To encourage wider acceptance of the program, VECV will allow owners of scrapped vehicles to transfer their Certificates of Deposit to a third party who can then avail similar incentives.
Commenting on the program, Vinod Aggarwal MD and CEO of VECV, said, “The forward-looking Vehicle Scrappage Policy by Government represents a transformative step towards promoting a circular economy and encouraging the use of cleaner and safer vehicles. VECV is fully aligned with the policy, and our program aims to incentivise operators of old vehicles of any brand to transition into Eicher’s range of modern, safer and environmentally friendly vehicles.”
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