Italy offers new bike incentives up to ?700
- by Christopher Jones
- Published: 29 April 2009
With the global economy slowing down due to the finance crisis, European governments are trying to keep their automotive industries alive. While these industries certainly have an impact on national economies, many other industries are overlooked.
The bikeindustry has complained that subsidies limited to automobiles is discriminatory and some entrepreneurial bike shops took the initiative offering financial crisis discounts directly to consumers.
The Italian government is the first to react and offer incentives of up to ?700 on a new bike purchase. As Bike Europe has reported, ?8,75 million has been planned for incentives, though this also includes e-bikes and certain electric motorcycles and scooters. From this pool, a new buyer can save up to 30% of the sale price and a maxmimum of ?700 which caters for the average retail price of a high end e-bike.
The Italian Ministry for the Environment which initiated the scheme on April 22 is also conscious of sustainability and hence is specifically supporting e-bikes and bicycles which are now presented as an affordable option compared with vehicles that impact the environment more heavily. Unknown is whether the scheme relies on a trade-in as is such with the current incentive system for new car purchases in Germany.
Tags: Industry News