Middle-aged cash buyers are the biggest users of the government scrappage scheme, it has been revealed.
A survey from the Retail Motor Industry Federation (RMIF) has stated some of the key stats associated with the scheme, offering motorists a £2,000 discount on a new model if they trade in their used car of over ten years of age to be scrapped.
Some of the findings highlighted that a fifth of the cars are priced between £8,000 and £10,000, while 63.7 per cent of those taking advantage are between the ages of 45 and 60.
Furthermore, just over two thirds of motorists seek an engine size of between 1.0-litre and 1.3-litres, meaning that vehicles including a Ford Fiesta, Nissan Micra or a Volkswagen Golf are among those which offer the most appeal.
The study was also carried out by the motor industry newspaper Automotive Management.
Editor of the publication Jeremy Bennett said: "Car buyers now have the knowledge they need to make a fully informed purchasing decision.
"It’s clear the scrappage scheme has released pent up demand which had built up as result of uncertainty as we waited for a decision on a scrappage scheme."
The scrappage scheme for the car industry was announced as part of the 2009 Budget by chancellor Alistair Darling.