Romania's First Car program could boost car sales by EUR 226 mln

Sales of mid-range priced cars, as well as sales of less polluting cars might increase by some EUR 226 million thanks to the First Car program, according to the approved draft ordinance to stimulate new car purchases. ”The annual sales increase could reach RON 1 billion, which can lead to a 0.1% economic growth, including effects in the production, import and distribution chains, and the related services in the auto sector,” reads the document, cited by local Agerpres. The First Car program aims to support young people and help boost sales for new, less polluting cars, as well as increase domestic production. The state has pledged to back up the program by offering guarantees on car loans. Irina Popescu, irina.popescu@romania-insider.com