January 25, 2013 / 4:26 PM / 5 years ago

Spain to extend incentives for automobile purchases

SANTIAGO, Jan 25 (Reuters) - Spanish Prime Minister Mariano Rajoy said on Friday his government will spend 150 million euros ($200.61 million) to extend an incentive programme for automobile purchases.

The programme, known as PIVE, was to expire this month. It involves a 2,000 euro price break on purchases of new cars when the buyer turns in a car that is at least 12 years old. Last year the incentives helped to lessen the fall in car sales in a deep recession in Spain.

Rajoy was speaking at a news conference in Chile, where he is attending a summit of Latin American and European leaders. ($1 = 0.7477 euros) (Writing by Fiona Ortiz in Madrid)

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