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Aftermarket Summary
The Italian automotive aftermarket market is worth Euro 30 billion, including manpower (Euro 18 billion for just spare parts and tires); this value has been quite stable over the last three years. In the first months of 2018, car body components and electric (and electronic) components grew compared to 2017, whereas engine components slowed down in the last months compared to 2017.
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electric improved. “Electric only” vehicles represent a small quota of the market (about 1,965 vehicles sold in 2017). However, hybrid vehicle sales were 66,255 units..
In December 2018 the government approved a new amendment known as “bonus-malus” that will be effective from 1st January 2019 to 31st December 2021. This amendment envisages some incentives benefitting new hybrid and electric vehicles registration, and penalizes all the other new vehicles that emit over 110 g/km CO2. These vehicles will face progressive taxation ranging from 150 to 3,000 euros. According to trade unions and auto sector associations, such a law will, on the one hand, impact the Italian industry that invested on the electrification and, on the other, will damage the Italian market and consumers. Fiat Chrysler Automobiles is against it and announced that it could review its 5 billion euro ($5.7 billion) Italian investment plan, which includes a shift to cleaner engines if Rome raises taxes on gasoline and diesel cars. Besides, the FCA group risks not to have models included in the incentives.
On the one hand, the “malus” part imposes a taxation of € 1,100 for every new car purchased emitting from 165 to 175 g/km CO2; it increases to € 1,600 from 175 to 200 g/km, € 2,000 from 201 to 250 g/km and 2,500 for all the vehicles emitting more than 250 g/km of CO2. This taxation is imposed to all vehicles registered in Italy or abroad.
On the other hand, the “bonus” part encompasses incentives of € 6,000 if a buyer purchases an electric vehicle (from 0 to 20 g/km CO2 emissions) and scraps an Euro 0,1,2,3,4 vehicle or incentives of € 4,000 without said scrapping. In case the buyer purchases a hybrid vehicle (from 20 to 70 g/km CO2 emissions) the incentives are € 4,000 with the scrapping (or € 1,500 without scrapping). The incentives are provided for electric and hybrid motorcycles (powered up to max 11 kW) as well. These incentives are granted to vehicles registered in Italy only. For 2019 the Kyoto Fund allows to draw € 10 million, while for 2020 and 2021 there is an annual fund of € 5 million. From 2008 to 2017, the average level of CO2 emissions per new vehicle dropped constantly. According to UNRAE, the level went from 144.3 g/km to 112.4 g/km of CO2 in 2017, with a loss of 22.1%.
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