Although the golden years of 2 million new cars registered in Italy are still far away, the market is recovering. Normal, because the season of electric cars, hybrids and perhaps SUVs constantly raises prices and at the same time changes society. Owning a car is no longer a dogma; There is increasingly room for different ownership and use formulas (primarily long-term leases). And those living in big cities in most cases do not own a car and do not even consider buying a car, because they prefer other types of transport (bicycle, scooter, public transport). However, despite all this, 1,566,448 cars were registered in 2023, an increase of 18.96% compared to 1,316,773 in 2022. Not crumbs.
Buying a new car is no longer for everyone
The high prices of new cars are changing the game. According to Il Sole 24 Ore, the automobile market was previously a popular market; The slogan was to give everyone a new car “even if it’s below cost to keep the factories running.” “The industry is now looking at margins and buying a new car is not for everyone. There are those who keep it for longer, but more and more people are looking at second-hand cars.” The market is changing between electric motors, batteries and unknown brands. It is a fact that cheaper segments are being unveiled by big European names in the industry. And those who do not have a lot of money no longer even dream of owning a new car. But something is moving.
In fact, those who are considering buying a new car in 2024 are waiting with great curiosity for the new incentive system that will be officially introduced at the beginning of February. The main pillars of the plan are the modernization of the car fleet by supporting low incomes and restarting vehicle production in Italy.
Incentives for new cars in 2024
Incentives for those who want to buy an electric car in 2024 (but there will also be partial help for those who are only interested in the internal combustion engine) are interesting: The incentives that the government is working on for “fully electric” cars start Euro2 6,000 Euros if you scrap the car and your ISEE is below 30 thousand Euros. It reaches 13,750. Instead, incentives for purchasing hybrid models vary between 4 and 10 thousand euros, and incentives for purchasing low-emission vehicles vary between 1,500 and 3,000 euros.
These are not official figures, but hypotheses contained in the working draft on the renewal of automobile incentives, which some news agencies were able to view and predict. The government will put 930 million on the table, 570 million of which will be added to new funds and the unspent amount from old incentives. The intervention also concerns commercial vehicles, taxis and long-term rentals.
Doubts relate to the practical application of incentives. It is no secret that the bureaucracy in this specific area is particularly cumbersome, and just a few hours ago Unrae, the federation of foreign car manufacturers selling in Italy, said that “in light of the bureaucratic approval and approval deadlines of the relevant institutions, and due to the need to update the Invitalia platform, there is a very high risk that the new incentives will not become operational in the short term.” powerful and alarming.” We’ll see.
Source: Today IT

Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.