The Federal Chamber of Automotive Industries (FCAI) has welcomed the Federal Government's announcement of an LPG Autogas conversion subsidy.
Private vehicle buyers will be able to receive a tax-free grant of $1000 for the purchase of new LPG-dedicated or dual-fuel vehicles and $2000 for the installation of aftermarket systems.
"The subsidy is a useful initiative," FCAI Chief Executive Peter Sturrock said.
"It will help many families overcome the impact of recent high fuel prices.
"It will give many motorists an added choice by bringing forward the breakeven point which makes LPG fuel systems financially viable."
Mr Sturrock said the subsidy would underpin demand for vehicles in market segments which had been hardest hit by increased fuel prices.
"LPG's cost at the pump means daily running costs are virtually halved," Mr Sturrock said.
"It gives buyers another option to consider."
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