ECONOMY

Greece requests car incentive extension

greece-requests-car-incentive-extension

The Greek government is keen to extend an incentive for owners of old cars to take their vehicles off the roads by subsidizing the purchase of new ones until this June.

Sources said that after examining the proposals by car dealers and other parties concerned, Athens has tabled a proposal to its international creditors to extend the measure at least to the end of the year’s first half, as that would keep the local car sales market afloat.

Dealers say that unless the incentive is extended, the market will decline and they will be forced to lay off staff, following a year of relative growth.