Slovakia Resorts To Scrappage Subsidy To Boost Industry

The Slovak government has announced that EUR33mn (US$41.6mn) will be spent in providing subsidies for new car purchases in Slovakia. The market'syear-end sales reached 59,700 units in 2008, up by 17.3% year-on-year (y-o-y), according to European Automobile Manufacturers Association (ACEA). The industry is primarily dominated by three auto manufacturers Kia Motors, Volkswagen (VW) and Peugeot Citroën

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