New incentives for the purchase of low-emission cars, with discounts that vary based on the car you decide to scrap and the applicant’s income. On Thursday 1 February 2024, at the Ministry of Business and Made in Italy, Minister Adolfo Urso presented the new piano of 950 million euros which – barring ongoing corrections – should come into force starting next March. A project that reshapes the incentives of the so-called ecobonus (or car bonus), favoring those who get rid of older and consequently more polluting vehicles.
Car incentives 2024: the resources
The government’s objective, as underlined by Minister Urso, is to “scrap the oldest car fleet in Europe”, providing richer incentives to those who replace Euro 0, 1, 2 and 3 cars with low-emission vehicles pollutants. It will not be a click day but the funds, although substantial, are not unlimited: for the moment the allocation is 950 million euros, of which 10 inherited from last year’s funds, have been divided as follows:
793 million euros to subsidize the purchase of new cars; 35 million for mopeds, motorcycles, quadricycles; 53 million for light commercial vehicles; 20 million for used cars; 50 million for an experimental long-term rental program.
Furthermore, the distribution of incentives also varies based on the type of car to be purchased. For those considered “cleaner”, with emissions between 0 and 20 grams of Co2 (all electric cars, hydrogen ones and some plug-in hybrids) the funds available are 240 million euros. The next band, that of plug-in hybrids with emissions between 21 and 60 g/km, is entitled to 150 million euros, while the largest allocation, of 403 million, is for the band between 61 and 135 g/km, i.e. full hybrid, mild hybrid and with low consumption petrol or LPG engine. A distribution that marks a U-turn compared to the past, rewarding more car segments with a more affordable list price, compared to “pure” electric cars.
Who is the bonus suitable for?
As mentioned, the new incentives allow cars from the euro 0 to euro 5 category to be scrapped, which until now had always been excluded, rewarding the most polluting ones (0, 1 and 2) more. Furthermore, a further increase will be applied to the incentives in the case of families with an ISEE of less than 30 thousand euros. A bonus which therefore caters to less well-off families, and is more convenient for those who have an “elderly” vehicle. Let’s look at the amounts together. For those who purchase a low-emission car (i.e. in the 0-20 g/km range which includes electric, hydrogen and some hybrids), without scrapping another vehicle, the incentive will be 6 thousand euros.
The mechanism then provides for a bonus of 11 thousand euros with the scrapping of Euro 0.1 and 2 cars, which then decreases as the class of the scrapped vehicle increases: 10 thousand for Euro 3 and 9 thousand euro for Euro 4.
In the case of scrapping a 5 euro vehicle, the incentive is only provided for incomes under 30 thousand euros. For ISEEs below this threshold the bonus is much higher: 7,500 euros for the purchase without scrapping, 13,750 euros with the scrapping of vehicles in euros 0, 1 and 2, 12,500 euros for euros 3, 11,250 for euros 4 and, for 8 thousand euros for the euro 5 category.
By increasing the emissions of the car purchased, the incentives decrease. In the 21-60 g/km range, the one relating to plug-in hybrids, the incentives drop to 4 thousand euros (without scrapping), 8 thousand (0, 1 and 2 euros), 6 thousand (3 euros), 5,500 (4 euros) and 0 euros for 5 euros. Also in this case the amount of the incentive will be greater for families with an ISEE of less than 30 thousand euros: 5 thousand without scrapping, 10 thousand with a car of 0, 1 and 2 euros, 7,500 for 3 euros, 6,875 for Euro 4 and Euro 5,000 for Euro 5 vehicles.
As regards the last emission range (61-135 grams of Co2 emissions per km), there are no incentives in the case of purchases without scrapping. For those who decide to get rid of a 0.1 or 2 euro vehicle, the bonus is 3 thousand euros, which becomes 2 thousand in the case of 3 euros and 1,500 for 4 euros. We remind you that the new government incentives are not valid for every type of cars, but only for vehicles with prices below certain thresholds: 35 thousand euros for electric ones and those in the 61-135 g/km of Co2 range and 45 thousand for 21-60 g/km, always excluding VAT. Companies, with the exception of car dealers, will also be able to access the bonus. For the incentives there is a restriction on maintaining ownership of the vehicle which for natural persons is 12 months, while it rises to 24 months for legal entities.
Used and two wheels
An important innovation also concerns the purchase of Euro 6 used cars with a value not exceeding 25 thousand euros (excluding VAT): by scrapping a vehicle of class between Euro 0 and Euro 4, owned for at least 12 months, it will be possible to obtain a bonus of 2 thousand euros. The overall budget for this incentive is 20 million euros.
Furthermore, the government allocates 35 million euros to incentives for the renewal of the fleet of mopeds, motorcycles and quadricycles: 30 for electric vehicles and 5 for others. In the case of purchasing an electric scooter without scrapping, the incentive is equal to 30% of the value of the vehicle up to a maximum of 3 thousand euros, while in the case of scrapping the bonus rises to 40% of the value and the maximum ceiling to 4 thousand EUR. Also in this case there is a 12 month ownership restriction.
A plan also well received by sector associations, who however fear the long implementation times. The incentives should become operational from March 2024 but, as always in these cases, parole remains mandatory.