New Delhi- Eicher Trucks and Buses, a business unit of VE Commercial Vehicles Ltd., has introduced a new program to incentivize customers to purchase new trucks and buses in exchange for a valid Certificate of Deposit for their old vehicles, in alignment with the Government of India's Vehicle Scrappage Policy
Under this scheme, buyers with a valid Certificate of Deposit from any recognized scrappage center can receive incentives ranging from 1.25% to 3% of the base cost when purchasing new vehicles with equivalent payload or seating capacity. If an exact match isn’t available, customers can choose trucks or buses with slightly higher or lower capacities. The program is effective from September 1, 2024, and will run for 2 years or until further notice. To encourage broader participation, VECV allows the transfer of Certificates of Deposit to third parties for similar incentives.
Mr. Vinod Aggarwal MD and CEO 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 incentivize operators of old vehicles of any brand to transition into Eicher’s range of modern, safer and environmentally friendly vehicles."
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