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Date Published: 16/06/2020
ARCHIVED - Spanish Government offers subsidies for purchase of new vehicles: Plan Renove
Plan Renove (Plan PIVE) was used very successfully to support the auto sector during the economic crisis and was also extended to encourage the purchase of more energy efficient electrical domestic white goods.
The Spanish Government has resurrected the Plan Renove car subsidy scheme used after the economic recession to help stimulate the car manufacturing sector and has announced a 3.75 billion euro injection of financial subsidies and loans which it hopes will stimulate the purchase of new vehicles.
Spain is the second largest car manufacturer in Europe and the 12th in the world, accounting for around 10% of GDP, 300,000 direct jobs and an estimated 2 million indirect jobs. 82% of the vehicles produced in Spain are exported to more than 100 countries and there are 17 vehicle manufacturing plants in Spain.
Manufacturing and sales of vehicles have been badly hit by the Covid crisis and the new conditions offer subsidies of between 400 and 4,000 euros on the purchase of new cars and commercial vehicles as part of a 21 point plan of aid for the sector, the idea being that the Government subsidises half and the manufacturers and dealers match that subsidy.
The only exceptions to that are DGT Zero label models, in which the additional aid will be limited to 1,000 euros. In some cases, an additional incentive of 500 euros will be added.
The amount of the subsidy will vary depending on the emissions level of the vehicle (subsidies are lower for less efficient vehicles in polluting terms) and it will be compulsory to scrap a car over 10 years old to get the deal (7 years for a commercial vehicle)!.
Part of the plan is undoubtedly the argument that Spain has an aging car population with an average age of 13 years old, vehicles which pollute more than their more modern counterparts and the aim is to replace older vehicles with more energy efficient models, as well as directly supporting the sale of new vehicles for the important Spanish car manufacturing sector. Hence, the first condition imposed by the Government is to scrap cars aged over 10 years old, and the subsidy is larger if the car is older than 20 years of age.
The second condition is that the vehicle does not exceed 35,000 euros, 45,000 in the case of electric cars, or 120 grams of CO2 per kilometer in terms of emissions.
The subsidies will vary according to various factors: the type of vehicle, the DGT classification label, the energy efficiency classification of the Institute for Energy Diversification and Saving (IDAE) and the type of buyer, which distinguishes between individuals, the self-employed, medium and large companies.
For passenger cars, the Government's contribution will range between 300 euros for a vehicle with a DGT label 'C' (diesel or gasoline) and 4,000 euros for cars with a 'Zero' label ( electric and plug-in hybrids with more than 40 kilometers of autonomy) for individuals or self-employed.
The more energy efficient the vehicle, the greater the subsidy.
Self-employed and individuals: Label 'C': 400 euros and 800 euros with classification A.
'ECO' label: 600 euros with classification B and 1,000 euros with classification A.
Label 'Zero': 4,000 euros.
For example, if an individual or a self-employed person buys a vehicle classified with environmental label C, he/she may receive government aid of 400 euros; if that vehicle has the energy label A the subsidy is 800. In the case of an ECO car (hybrids or gas), the aid will be 600 or 1,000 euros, respectively. And for zero emissions, the subsidy will reach 4,000 euros. Manufacturers and dealers must match the help provided by the Government.
The subsidies will exclude the purchase of any vehicle that exceeds 120 grams of CO2 emissions, so most of the SUVs could be left out of the offer.
The Government has also reserved 100 million to renew public fleets of vehicles with electric vehicles and it will allow local councils and corporations to use their budget surplus to renew their own fleet of vehicles, which could mean another 100 million euros.
The plan also includes measures to extend the national network of electrical charging points, the aim being to reach 340,000 points by 2030 and 830,000 by 2040 as well as direct aid for the sector,and "soft loans" for manufacturers via the state-owned bank Instituto de Crédito Español (ICO).
So if you are planning to buy a new vehicle it’s well worth looking at the classification of the vehicle and asking the car dealer about the level of the subsidy available on the different models.
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