Spain extends its PIVE plan for the 5th time
- The Spanish government has decided to extend its plan to support the automotive market, the PIVE Plan (Efficient Vehicle Incentive Programme). This fifth generation of the plan retains the same characteristics as the previous ones.
- The new PIVE Plan will therefore finance bonuses amounting to 2,000 Euros (1 000 euros from the government, 1 000 euros from the manufacturer) for the purchase of a vehicle with low CO2 emissions accompanied by the replacement of a passenger car over 10 years old or the replacement of a commercial vehicle over 7 years old.
- This announcement was acclaimed by the Association of Spanish manufacturers, the ANFAC, who believes that the passenger car market could grow by more than 10% in 2014 thanks to the PIVE plan (in other words 800 000 cars).
- After two consecutive years of decline, the Spanish market was up 3.3% over the whole year 2013, with 722 703 new car registrations. The Spanish market is still at a very low level since before the crisis this market sold 1.6 million units in 2006 and 2007.
- Since its first launch in October 2012, the PIVE Plan helped cushion the fall of the market and helped restart it.
