Cars, incentives also for the Euro 6. Government without agreement – La Stampa

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The dramatic crisis in the auto sector breaches the majority of government (excluding Cinquestelle). With an amendment to the Raising Decree, Pd, Iv and Leu ask for a bonus of 4 thousand euros for Euro 6 cars; bonus that drops to 2 thousand euros without scrapping. Meanwhile, the 6.3 billion loan requested by FCA to Intesa Sanpaolo with the Sace guarantee makes an important step forward.

Four thousand euros of incentive, in 2020, to those who buy a Euro 6 car (with CO2 emissions between 61 and 95 grams per kilometer) by scrapping a car with more than ten years. This is what the amendment of Pd, Iv and Leu, first signatory Gianluca Benamati (Pd), asks for. The bonus would consist of a state contribution of up to € 2,000 and a concessionaire contribution of the same size. For 2021, the state contribution would be up to one thousand euros, provided that the seller applies a double one, again for Euro 6. The bonuses are halved in case of purchase without scrapping. We will now have to see how the grillini will react, which had sided in favor of incentives to support exclusively electric or hybrid cars.

In Italy – source Anfia – the automotive industry employs nearly 6 thousand companies, which invoice more than 105 billion euros, 6.2% of Gross Domestic Product (GDP), employing 260 thousand direct and indirect employees: over 7% of employees in the manufacturing sector. With services related to the automotive sector, it reaches 1.23 million employees and 335 billion in turnover per year. Then there is the capitolo taxes: on the whole, motorists pay almost 77 billion to the state coffers every year (for purchase, stamp duty and use), 15.8% of all revenues.

The fact is that the car market, thanks to the coronavirus, is not restarting. In the five months of 2020, registrations halved compared to last year, falling to 451,366. According to an initial estimate by the Centro Studi Promotor, the loss of turnover is 8.3 billion, to which 1.8 billion less VAT must be added. By the end of the year, the projections do not reach more than 950 thousand cars, with a drop in sales of 17.4 billion and VAT revenues of 3.8 billion. Dramatic and upsetting data for sector operators, and unions are asking for an incentive plan not only for electric and hybrid vehicles, but also for those with low environmental impact Euro 6 engines.

As far as FCA is concerned, Sace announces that the loan request complies with the provisions of the decree. “We can say that the examination of the transaction – explains the managing director of the subsidiary of Cassa Depositi e Prestiti, Pierfrancesco Latini, in hearing in the Senate – shows a full compliance of the structure of the transaction with the terms of the decree”. Latini stresses that “the loan has a very well-qualified specific purpose to cover the personnel costs of the plants in Italy, payment of suppliers, including strategic ones, of the Italian supply chain, and investments destined for research and development centers and workers and plants in Italy ». The commitments made by FCA under the guarantee will be continuously monitored. “Sanction mechanisms have been defined up to the early repayment of the entire loan in the event of non-implementation of the commitments – reiterates the Minister of Economy Roberto Gualtieri – The flows will pass through dedicated and tied current accounts to ensure timely control over the destination of the sums ».

Carlo Messina, the managing director of Intesa Sanpaolo, the bank called to provide the loan, also intervenes on the importance and significance of the transaction. “We could have given credit to 10 or 20 thousand companies with 100 thousand euros for each one, but in the meantime with the credit operation to FCA we support the entire car supply chain, with the guarantee of destination of the funds. The operation is a pillar to safeguard the national economic system in this emergency situation. Otherwise, instead of marking a 10% drop in GDP, we risk accusing it by 15% ».

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