February 3, 2014 / 10:48 AM / 4 years ago

Spain new car sales rose 7.6 percent in January

MADRID, Feb 3 (Reuters) - New car sales rose 7.6 percent in Spain in January from a year earlier, registering the fifth consecutive monthly increase as government subsidies spur buyers, car manufacturers’ association Anfac said on Monday.

A total of 53,436 cars were sold in the month and the association said a big driver of growth was a government subsidy known as PIVE, which has been extended four times.

Under PIVE, buyers of new cars who turn in an older car receive a 2,000-euro rebate, half from the state and half from the car dealer. (Reporting by Fiona Ortiz; Editing by Tracy Rucinski)

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