The PIVE 2 Plan has achieved 42,500 reservations in two months

We are finally beginning to see positive figures in the launch of the PIVE plan, designed to increase the number of vehicle registrations in Spain. The second part of this plan has already been running for two months and, according to Aniacam, 42,500 reservations have already been achieved, a figure that offers a glimmer of hope.

These reservations represent a 15% increase over the first part of the PIVE plan, which exhausted its funds in January. Although the original PIVE was successful, it was not enough to wake the Spanish vehicle market from its months-long slump. What is more, the current implementation of PIVE already has more than 5,000 reservations ahead of the original.

According to the president of Aniacam, Germán López Madrid, sales data for April so far suggest that this will be one of the few months in which sales increase. The first fortnight has resulted in a 5.3% increase, which points to a month-end close estimated to grow by at least 10%.

If PIVE 2 continues at its current pace, the year could close on a positive note, with 680,000 to 700,000 registrations projected. At the same time, much has been said about the large number of old vehicles that will leave circulation and that will generally improve safety on Spanish streets and roads.

Of course, not everything is rosy. The PIVE 2 plan will be a temporary solution, unless further work is done to offer more credit and more purchasing options for the customer. Unless it boosts the number of vehicles registered throughout 2013, it will be of no use if, once the second part of the PIVE 2 plan is exhausted, we return to a final part of the year with few registrations.

Source | El Mundo