scrappage

 
Pronunciation: /ˈskrapɪdʒ/

noun

[mass noun]
  • the action of scrapping old or inoperative vehicles, vessels, or machines: they arranged for the wreck to be removed for scrappage
  • [often as modifier] a government programme that gives drivers a financial incentive to replace old cars with newer, more fuel-efficient ones: a car scrappage scheme