• Plan Renove.All the keys to aid for the purchase of cars

The extraordinary Council of Ministers held this Friday has approved the Renove 2020 plan that will allow you to change cars to buy a low-emission one, giving instead one with 10 or more years of age that will be scrapped.

It is one of the basic pillars of the 'Plan to Promote the entire value chain of the Automotive Sector' and will help the demand for cars, paralyzed during the coronavirus crisis and which is having difficulty recovering, return to the growth path as soon as possible.

The program regulates the procedure for the direct granting of aid , in the form of subsidies, from which self-employed professionals, individuals of legal age residing in Spain and certain private companies may be beneficiaries. The bases include the type of eligible vehicles, the distribution of the budget by type, the amount of aid, the formalization of applications and the documentation to be submitted.

The financing of the subsidies will be made from the budget of the Ministry of Industry, Commerce and Tourism for a total amount of 250 million euros. Of this amount, 230 million will be for passenger cars and light commercial vehicles.

Main features of the plan

* Encourages the replacement of polluting vehicles in circulation , older and unsafe, by new vehicles with lower emissions and all the technologies currently available: electric, hybrid, hydrogen, combustion, LPG and natural gas vehicles.

* Aid will be granted directly and can range from 300 to 4,000 depending on the type of vehicle and the beneficiary, who may have an additional 500 in the case of scrapping a vehicle over 20 years old, beneficiaries with reduced mobility or those who belong to households with monthly income of less than 1,500 euros.

* The new car to be purchased must have less than 120 grams of CO2 emissions per kilometer and its price will not exceed 35,000 euros (45,000 if it is zero emissions).

* The purchase of cars with a ZERO energy label by private individuals or the self-employed will be subsidized with 4,000 euros, while if an ECO model is purchased they will receive between 600 and 1,000 euros and between 400 and 800 euros if a car with a label is purchased ' C '(combustion).

* The brands will have to make a similar contribution to state aid, except in the case of ZERO emission models, where they will discount 1,000 euros.

* Acquisitions made from June 16, 2020 will be accepted , and the program will end on December 31, 2020 or until the credit enabled for this purpose is exhausted.

* An economic impact for Spain of 1,104 M is estimated throughout the entire value chain and associated services, and the maintenance of 7,400 jobs in the sector.

According to the criteria of The Trust Project

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