Repubblica: Italian 2nd Hand Car Price Collapse

[AJSG]

http://www.repubblica.it/motori/attualita/2011/12/...

Basically it is saying that the floor of the Italian supercar market has truly collapsed. 612 offered at 60k EUR, 550s at 30k, and 599 at 100k.

[elms]

Was the same for us here in UK when CC first hit. Once the few bits of panic selling was over the market firmed back up

[cseven]

I believe there has been an almighty change in car tax from 2012 based on horsepower.

[bromers2]

elms said:

Was the same for us here in UK when CC first hit. Once the few bits of panic selling was over the market firmed back up

Those few months of panic threw out some really low prices - you'd still be sitting on profits nearly 3 years later.

[koolchris99]

know someone who got a low miles conti gt for 39k on the day after Lehman died

[andrew]

my italian's crap, but isn't the article blaming italian car taxes ???

[Sarnie]

bromers2 said:

Those few months of panic threw out some really low prices - you'd still be sitting on profits nearly 3 years later.

Yep, I remember there were 12 month old 07 plate Gallardo Spyders on PH for circa £80k, a price point that they are only just getting towards now!

[jdw1234]

Yes, but this is a new annual luxury car tax that is not going away.

Its not like a one off Lehman event.

[AJSG]

jdw1234 said:

Yes, but this is a new annual luxury car tax that is not going away.

Its not like a one off Lehman event.

Easy come, easy go...

[AJSG]

cseven said:

I believe there has been an almighty change in car tax from 2012 based on horsepower.

Yes, but there has always been a hefty tax increase above 2000cc, that is why Ferrari brought out the 208, a 308 with a 2 litre turbo engine, only for the Italian market.

In Italy the problem is that free (UK style credit) didn't exist till the late 90s. So a few years afterwards even the butcher's live-in shaver could buy a Lambo...a bit like in Britain.

If you want to see the flipside of this go to Bavaria, its Germany's golden era. It puts London to shame on the sheer number of supercars you spot per mile.

[aycee]

Ferrari and Lambo prices have become a bit too buoyant recently for my liking.They did go very low in 2009, especially 550s.
I dont see them as good value at the moment.
Italy is an entirely different entity and Im sure the Germans will hoover up the bargains.


Ps ,I heard also that they are looking into a bit of a boat tax out there as well!Need to look into that one.

[AJSG]

aycee said:

Ps ,I heard also that they are looking into a bit of a boat tax out there as well!Need to look into that one.

Hmmm...already taxed pretty highly, I thought that once the Irish ponzi scheme collapsed we get a few 50ft'ers for the price of 37s...but that never really happened.

[steveirl]

The new rod tax just introduced in Italy will add a new upper level of annual tax, charged at a rate of of €20 for every Kw of power developed over 184Kw ( or in bhp terms 247bhp)
To give an example of this, a 550 Maranello will now cost over €4000 per year for road tax, almost triple the previous amount charged.
Also, it has always been the case in Italy, that road tax is payable as long as the car is registered for road use, even if it is garaged or stored. There is no off road facility for road tax, you own the car, you pay. The only way out is to de-register the car, and forfeit the number plates.

[AJSG]

steveirl said:

To give an example of this, a 550 Maranello will now cost over €4000 per year for road tax, almost triple the previous amount charged.

Absolutely, but to be fair car ownership in Italy is shockingly expensive. I pay less here for my 612 fully comp, bonus guaranteed, commuted and parked on a drive...than my friends in Rome do on their Alfa 159 with an agricultural engine.

[aycee]

AJSG said:

aycee said:

Ps ,I heard also that they are looking into a bit of a boat tax out there as well!Need to look into that one.

Hmmm...already taxed pretty highly, I thought that once the Irish ponzi scheme collapsed we get a few 50ft'ers for the price of 37s...but that never really happened.

Boats-thats exactly what the scandinavians got when the £ to Euro exchange rate dipped over the last few years.
Lots of good boats left these shores and propped up the brokerage sales.
Cars- All the LHD cars went back to Germany and the like and I think OZ got a fair few Right hookers.

[steveirl]

AJSG said:

Hmmm...already taxed pretty highly, I thought that once the Irish ponzi scheme collapsed we get a few 50ft'ers for the price of 37s...but that never really happened.

"Irish ponzi scheme"
What's that????

[DayTrader]

steveirl said:

"Irish ponzi scheme"
What's that????

The Economy.