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Scrap yards took in 1,500 old cars last week

Slovakia's 28 licensed scrap yards took in 1,500 old cars for scrap last week, said the Automobile Industry Association (ZAP) on March 16, adding that at this rate the Economy Ministry's scrapping subsidy program could be in place for at least eight weeks, reported the TASR newswire. ZAP spokesman Mária Nováková further said that demand for new cars, especially less expensive models, has increased, but that ZAP will release hard sales figures later this week.

Slovakia's 28 licensed scrap yards took in 1,500 old cars for scrap last week, said the Automobile Industry Association (ZAP) on March 16, adding that at this rate the Economy Ministry's scrapping subsidy program could be in place for at least eight weeks, reported the TASR newswire.

ZAP spokesman Mária Nováková further said that demand for new cars, especially less expensive models, has increased, but that ZAP will release hard sales figures later this week.

The Government will be assessing the cost-effectiveness of its program in which car owners who scrap cars manufactured before December 31, 1999 can receive a subsidy of up to €2,000 when buying a new car. This will be completed after the total authorised subsidy amount has been used up, said Economy Minister Ľubomír Jahnátek, who didn't rule out the possibility that the subsidy program could be extended. TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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