ANNOUNCED AS TEMPORARYNo
On 15 July 2009, while touring the PAACE Automechanika Exhibition in Mexico City, Mexican President Felipe Calderón announced that the Mexican government would launch the Vehicle Renewal Program (VHP). The Program will subsidize the purchase of a new vehicle by owners of cars that are at least ten years old. VHP will provide up to MXN15 000 in Federal aid to purchasers of vehicles worth up to MXN160 000.
The government, however, will only subsidize cars produced in Mexico or those that are produced in countries with which Mexico has free trade agreements and by firms that are already established in Mexico. The initial cost of the program is expected to be MXN500 million, although it may be augmented by a further MXN500 million.
The program ended in 2010.
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