Agence France-PresseOctober 17, 2013 08:02
Spain will renew a bonus scheme for drivers to trade in their old cars to boost a sector that is helping drive an economic recovery, the government said on Thursday.
"We are going to extend the scheme with a further 70 million euros" ($95 million), Budget Minister Cristobal Montoro told an industry forum in Madrid.
The bonus scheme was launched in October 2012 and has already been renewed three times.
Spain is Europe's second-biggest auto-maker, building millions of cars a year, but 90 percent of them are exported, with home sales weak after a double recession.