Italy extends its cash for clunkers program for 100,000 more vehicles
The Italian cash for clunkers program was supposed to last until the end of 2009. However, there were voices that called for the extension of the program. Once such voice was Sergio Marchione, the CEO of Fiat, who said that there could be "severe social consequences" if the program was suddendly finished. Presto, the Italian Government has now decided to extend the program by 100,000 more vehicles or €2 billion, whichever is reached first. The program offers a tax break of €1,500 to buyers who get a new car that has reduced CO2 emissions. The amount is increased to €3,000 or €3,500 when purchasing a CNG (Compressed Natural Gas) or an all-electric vehicle. Recently, France opted to extend its program with reduced subsidizes and the UK found more money for their program as well.
[Source: Le Blog Auto]
Reader Comments (Page 1 of 1)
Mark Kiernan 11:05AM (10/02/2009)
The problem is there are NO evs on the road so I fear that they will cut it off before electric cars arrive and then where will we be?
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William 11:16AM (10/02/2009)
The bonus system is fine, especially as far as CNG vehicles go. However the CO2 thresholds need to be updated and lowered a little.
By far the biggest problem, however is that lack of a malus. It's not sufficient to reward people who choose a car with low emissions, if nothing is being done (much higher taxes, as many EU countries already have) for owners of SUVs and such. All they have to do is copy the HEAVY malus system already adopted in France and Spain and a dozen other countries...
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