'New for old' car exchange scheme renewed as motor industry thrives
Saturday, January 11, 2014 @ 7:37 PM
A 'CASH for scrap' plan aimed at boosting the motor industry has been revived again with a government grant of 1.75 million euros, meaning car-owners will get a sizeable discount off the cost of a new vehicle when trading in their older ones for parts.
This will be the fifth edition of the 'Plan PIVE', with the previous four having led to 365,000 new cars being bought after owners were able to part-exchange vehicles over seven years old and obtain a discount of several thousands of euros on straight-off-the-forecourt newly-registered models.
The last four Plan PIVEs have helped create 10,000 jobs in the motor industry, with over two million new cars manufactured in Spain being sold via dealerships in the first 10 months of 2013 - more than in the whole of 2012, and a rise of 30 per cent a year.
Foreign investment in the motor trade had trebled by September last year, compared to figures before the Plan PIVE was launched, reaching over 21.6 billion euros.
Read more at thinkSPAIN.com