Spanish car sales rise 14% on renewed subsidy program
MADRID (Reuters) -- Spanish new-auto sales increased 14 percent in-May to 94,030 automobiles after the authorities revived a subsidy scheme that's boosted revenue for 21 straight months.
The scheme has helped spur buys during the past two years and was revived for the seventh time last month with the injection of 225 million euros ($245.3 million). Beneath the scheme, owners who trash their cars and purchase a new one-get 2,000 euros, half which is supplied by the authorities and half from the car-maker.
Five-month sales are up 2-2% to 443,888, business organization Anfac said.
Enrollments had grown only 3.2% in April after a preceding period of the subsidy plan stopped at the start of the month.
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