PIVE 3 Plan Runs Out

The PIVE 3 Plan did not make it to the end of the year, and its funds ran out today. It has been calculated that at the start of the week only 1.5 million euros of budget remained, which would cover just 1,500 transactions.

Considering that up to 6,500 transactions involving PIVE Plan discounts can be carried out on a Friday, we can say that a third of the scrappage subsidy plan has been used up. The programme started on 29 July and the funds were expected to last until the end of the year.

Last August we were saying that PIVE 3 would not last until the end of the year, given that demand was beginning to rise rapidly. The Spanish government is in favour of implementing a fourth PIVE Plan, although there is still no major news confirming that we will have another PIVE before the end of the year. In any case, if you were thinking of buying a car, you would be better off rushing to the dealership right now to secure any deal still available.

Those most interested in extending these aid plans are the brands and the government itself, which could collect more in registration taxes. Given the lack of work and purchasing power to buy cars in Spain, the solution is within easy reach: a fourth “version” of PIVE. However, it is a measure that cannot be sustained for much longer without addressing the real causes of the sector’s crisis.

Source | La Tribuna de Automoción