19052023 Editorials, CAR SCRAPING 3:
- What are the relevant guidelines to scrap old cars
- Where to get the cars scrapped
- What is the market size
- What is the process
- How is the old car owner benefitted
The last article in these three series is all about what you need to know about car scrapping and the ways to take up this process. Founders who are eager to step into this domain need to concentrate on cutting this capital-intensive industry into a cost-effective one with their innovations. Today let us analyze the market size of this lucrative domain.
‘According to a report by the Ministry of Road Transport and Highways, there were approximately 51.8 million registered vehicles older than 15 years in India as of 31st March 2015. It’s important to note that this number may have changed since then due to factors such as new vehicle registrations, and other factors.
Also, the number of registered vehicles in India increased at a compounded annual growth rate of 10.16% between 2011 and 2015. Therefore, it can be assumed that the number of vehicles over 15 years old in India would increase at a similar rate annually.
Under the automobile scrapping policy in India, there are several steps to scrap old and used cars:
Deregister the vehicle: The first step is to deregister the vehicle with the Regional Transport Office (RTO) where it was registered. This can be done by submitting the vehicle’s registration certificate and other required documents.
Choose a registered scrapping centre: The vehicle owner must then choose a registered scrapping centre that has been authorized by the government to scrap old vehicles. The list of registered scrapping centres can be found on the website of the Ministry of Road Transport and Highways.
Get the vehicle inspected: The owner must then take the vehicle to the chosen scrapping centre for inspection. The centre will check the vehicle’s condition and determine its scrap value.
Receive scrap value: If the vehicle is found to be eligible for scrapping, the scrapping centre will offer a scrap value to the owner. The value will depend on various factors such as the age, condition, and model of the vehicle.
Hand over the vehicle for scrapping: If the owner agrees to the scrap value, they can hand over the vehicle to the scrapping centre. The centre will then scrap the vehicle and dispose of its parts in an environmentally friendly manner.
Receive a certificate of scrapping: After the vehicle has been scrapped, the scrapping centre will provide a certificate of scrapping to the owner. The certificate will serve as proof that the vehicle has been scrapped and cannot be used on the road again.
There are authorized scrapping centres in India where old and used vehicles can be scrapped under the automobile scrapping policy. These centres have been approved by the government to ensure that vehicles are scrapped in an environmentally friendly manner and that their parts are disposed of safely.
The list of authorized scrapping centres can be found on the website of the Ministry of Road Transport and Highways. It is important to note that the process may vary slightly depending on the specific requirements of the scrapping centre and the state in which the vehicle is registered.’ Refer https://vscrap.parivahan.gov.in/vehiclescrap/vahan/welcome.xhtml for more details.
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