SPAIN is extending its subsidies for new-car purchases - credited with reversing a slump in sales - for the rest of this year and into 2010, Industry Minister Miguel Sebastian has announced.
The government will provide an extra 40 million euros for the programme, making it easier for consumers to buy an additional 80'000 vehicles, Sebastian said.
The budget for 2010 sets aside an envelope of cash which allows the programme to be prolonged in 2010, he explained.
Under the so-called Plan 2000E introduced in June, car buyers in Spain get a 500-euro subsidy from the central government, another 500 euros from their regional government and 1'000 euros from the auto maker when buying a new car. The measure - similar to others in several European countries - had an initial budget of 100 million euros which, Sebastian said, is almost completely used up.
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