The British Government has announced on Friday that a quota system will be introduced for the remainder of the car scrappage scheme as more than 75 per cent of the £400 million auto scrappage program has been used up.
The Government said that order quotas would be allocated to manufacturers based on brand popularity.
Figures showed that as many as 318,628 new car orders have been taken under the scheme since it was launched in April 2009 and now, funding for less than 82,000 new vehicle orders remained.
Speaking on the issue, business secretary Lord Mandelson said, "I would urge people who are still keen on taking part to put their orders in as soon as possible as time is running out." The scheme was launched to support the struggling auto industry in wake of recession.
Under the car scrappage scheme, car owners receive a discount of £2000 in case they swap an old car for a new, more fuel-efficient and less-polluting one.