The Spanish government is extending its own version of "Cash for Clunkers" for the fourth time, as Spain tries to boost sagging car sales in the midst of a severe recession.
Buyers will get a 1,000 euro subsidy if they trade in a 7 to 10 year old car for a newer, more fuel efficient one that costs less than 25,000 euro. The $97 million program will last for six months or until the subsidies run out, with the previous three programs helping to move 30,000 cars.
So far, Spain is the only country to initiate such a program – sales were up 29 percent last month, with the program credited for spurring much of the demand.
from The Truth About Cars http://www.thetruthaboutcars.com
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