Spain's car manufacturer association, ANFAC, says it will shortly launch the fourth phase of its automotive incentive scheme.

The plan - to boost vehicle acquisition in Spain's depressed economy - will see EUR70m (US$96m) set aside allowing a EUR2,000 subsidy per car.

An ANFAC spokesman in Madrid said the current EUR70m came in addition to earlier subsidies of EUR75m, EUR150m and EUR70m.

The EUR2,000 incentive will be split equally between funds from the government and manufacturers.