Car dealerships and importers are anxiously awaiting a "clunker for
cash" measure expected to debut on Monday, with optimistic estimates pointing to a 20 to 30-percent increase in new car sales -- and amid a severe recession in the sector presently due to the economic crisis plaguing Greece. An estimated 2.5 million vehicles described as "old technology" (first generation catalytic converters, leaded gasoline users etc.) are still listed on the registrars, with owners now given a monetary impetus to buy a modern car.
The measure affects purchases of vehicles of up to 2000cc, with a partial or total exclusion from license fees. Eligible "clunkers" must feature a circulation license in Greece before Dec. 31, 1998.
source: ANA-MPA
