Eco-incentives for cars available from January 23rd: reservations

January 23, 2024 is an important date for the Italian automotive sector, especially for those interested in eco-friendly vehicles, as reservations for the 2024 car eco-incentives begin.

The Italian government is working on a review of the eco-incentive system to particularly benefit low-income citizens and those who scrap older vehicles. The precise details on the discounts will be available with the publication of the new DPCM expected in February.

Until the new rules come into force, the current incentives remain valid. Starting from Tuesday 23 January 2024, it will once again be possible to submit reservations to access these incentives.

What are Eco-incentives for Cars

Eco-incentives for cars are government subsidies provided to buyers of new vehicles that emit low amounts of CO2. These incentives are designed to stimulate the sale of cleaner cars, such as electric, hybrid and low-emission vehicles.

Who can benefit from Eco-incentives

These incentives are available to individuals, companies and freelancers who purchase new vehicles. Benefits vary depending on the type of vehicle purchased and the level of emissions.

Types of Vehicles Allowed

• Electric Vehicles (EV): Fully electric cars, with no CO2 emissions.
• Hybrid Vehicles (HEV and PHEV): Cars that combine a traditional engine with an electric motor, offering lower emissions than traditional cars.
• Low Emission Cars: Vehicles that emit an amount of CO2 below a certain threshold.

Amount of Car Incentives 2024

Two years ago, with the decree-law n. 17/2022, the then government of Mario Draghi allocated funds to support the ecological transition of the Italian automotive industry, in preparation for the planned cessation, barring any delay, of sales of internal combustion engine (ICE) cars in 2035.

700 million euros have been allocated for 2022 and 1 billion euros annually from 2023 to 2030. In 2024, the sum allocated for car incentives is 610 million euros, to which another 30 million are added for electric motorcycles and mopeds, as provided for by the 2021 Budget Law. The distribution of these funds follows the scheme defined by circular of 28 December 2023 of the Ministry of Business and Made in Italy.

• 205 million of euros for the purchase of electric cars (0-20 g/km CO2 range);
• 245 million of euros for the purchase of plug-in hybrid cars (21-60 g/km CO2 range);
• 120 million of euros for the purchase of thermal cars (61-135 g/km CO2 range);
• 20 million of euros for the purchase of commercial vehicles N1 and N2 electric;
• 45 million of euros (15 + 30) for the purchase of electric motorcycles and mopeds;
• 5 million of euros for the purchase of ICE motorcycles and mopeds.

5% of the funds allocated to incentives for the purchase of electric cars (10,25 million euros) and plug-in hybrids (12,25 million euros) is reserved for legal entities that purchase vehicles for car sharing or commercial car rental activities.

Car incentives 2024, what can you buy?

Once the total budget for 2024 auto incentives has been established, it will be possible to determine which car models will be eligible for these incentives and the exact amount of the rebates, pending a possible future review of the contributions.

As in previous years, only purchases of new cars, directly from the factory, including leasing contracts, will be eligible for incentives. The structure of the contributions planned for 2024 is organized as follows:

• 5.000 € with scrapping and 3.000 € without scrapping for M1 motor vehicles at least Euro 6 in the 0-20 g/km emission band (cars electrical).
• 4.000 € with scrapping and 2.000 € without scrapping for M1 motor vehicles at least Euro 6 in the 21-60 g/km emission band (cars plug-in hybrids).
• 2.000 € only with scrapping for M1 vehicles at least Euro 6 in the emission band 61-135 g/km (cars full/mild hybrid, petrol, diesel, methane, LPG).

Please note that as in 2022 a maximum spending cap has been established and not all cars that fall within the expected bands will be purchasable:

• the price of the electric and thermal cars in the band 0-20 g / km e 61-135 g / km, resulting from the official price list of the manufacturing car manufacturer, must be equal to or less than 35.000 € (accessories included but VAT, IPT and road tax excluded), therefore approximately EUR 42.000;
• the price of the plug-in hybrid cars in the band 21-60 g / km, resulting from the official price list of the manufacturing car manufacturer, must be equal to or less than 45.000 € (accessories included but VAT, IPT and road tax excluded), therefore approximately EUR 55.000;

For scrapping, all cars with an emission class lower than Euro 5 are eligible, with no restrictions on the date of first registration. To qualify, cars to be scrapped must have been registered in the name of the buyer of the new vehicle (or a family member living with him) for at least 12 months.

Additionally, the buyer must retain ownership of the new vehicle purchased with 2024 incentives for at least 12 months.

The maximum period for registering a booked vehicle has been set at 270 days. This deadline, modified by the Ministerial Decree of 17 October 2023, is valid for both 2024 incentives and 2023 bookings not completed by that date.

2024 Car Incentives for Rental and Car Sharing Companies

Car sharing and commercial car rental companies can access the 2024 car incentives, but with limitations. They can only purchase vehicles that emit up to 60 g/km of CO2, i.e. electric and plug-in vehicles.

However, only 5% of the total funds are reserved for these companies: 5% for vehicles emitting between 0 and 20 g/km of CO2 (10,25 million euros) and another 5% for those emitting between 21 and 60 g/km of CO2 (12,25 million euros). Car rental discounts are also reduced by half compared to those for individuals.

• 2.500 € with scrapping of a Euro 0, 1, 2, 3 or 4 car and 1.500 € without scrapping for M1 vehicles at least Euro 6 in the 0-20 g/km emission band.
• 2.000 € with scrapping of a Euro 0, 1, 2, 3 or 4 car and 1.000 € without scrapping for M1 vehicles at least Euro 6 in the 21-60 g/km emission band.

2024 Incentives for Commercial Vehicles and Goods Transport

In 2024, small and medium-sized enterprises (SMEs) active in freight transport can benefit from incentives for the purchase of brand-new, exclusively electric commercial vehicles in the N1 and N2 categories.

These incentives are conditional on scrapping a vehicle with an emission class lower than Euro 4. N1 vehicles are intended for the transport of goods with a maximum mass of up to 3,5 tonnes, while N2 vehicles have a maximum mass between 3,5 and 12 tonnes. The incentives for electric commercial vehicles in 2024 are organized according to a specific scheme.

• 4.000 € for the purchase of N1 vehicles up to 1,5 tonnes;
• 6.000 € for N1 vehicles over 1,5 tonnes and up to 3,5 tonnes;
• 12.000 € for N2 vehicles from 3,5 tonnes up to 7 tonnes;
• 14.000 € for N2 vehicles over 7 tonnes and up to 12 tonnes.

2024 Incentives Also for Motorcycles and Mopeds 

Incentives will also be available for purchasing mopeds and motorcycles (categories L1e, L2e, L3e, L4e, L5e, L6e, L7):

• contribution of the 30% on the purchase price of an electric motorcycle or moped, up to a maximum of 3.000 euros + VAT; or of the 40% to 4.000 € + VAT if at the same time a motorbike in a class from Euro 0 to 3 is scrapped;
• in exchange for a 5% dealer discount, 40% contribution, up to a maximum of 2.500 euros + VAT, on the purchase price of a new factory-installed thermal motorcycle or moped and at least Euro 5, with scrapping of a motorcycle from Euro 0 to Euro 3.

Car incentives 2024 how to make a reservation

Reservations for the 2024 car incentives can be made online through a dedicated portal. It is important to have all the necessary documents ready when reservations open, due to the high demand expected.

The Ministry's circular of 30 December 2023 explains in detail the booking methods for these incentives. Starting from 10:00 on 23 January 2024, it will be possible to enter bookings in the Ecobonus IT platform, updated for new contributions, for purchases made from 1 January to 31 December 2024, until the available resources run out.

The reservation procedure is the exclusive responsibility of the dealer or concessionaire, who receives confirmation of the reservation based on the availability of funds. The buyer does not have to do anything, as the discount is automatically applied to the purchase price if available.

At the time of booking, to verify that the requirements for the granting of contributions are met, some categories must mandatorily present specific declarations:

Natural persons: declaration of acknowledgement of the retention of ownership of the purchased vehicle for at least 12 months (download the form);

Car sharing company: declaration certifying the use of the vehicle in car sharing for commercial purposes; simultaneous declaration of acknowledgement of the maintenance of such use as well as ownership of the vehicle
purchased for at least 24 months (download the form);

Car rental company: declaration certifying the use of the purchased vehicle in car rental activities for commercial purposes other than car sharing and a simultaneous declaration of acknowledgement of the maintenance of such use as well as ownership of the purchased vehicle for at least 12 months (download the form);

PMI freight transport: two substitute declarations, one relating to the possession of the PMI requirements, the other relating to the exercise of transport activities of goods on own account or on behalf of third parties (download form 1 and 2 module).

The forms completed, signed and dated by the vehicle purchaser must be entered by the dealer into the Ecobonus platform.

In summary, here are the dates of how the eco-incentives for cars will take place in 2024:

• 23 January 2024: reservations open for the 2024 car incentives which for the moment remain the same as 2022 and 2023. They are valid for purchases made from January 1st;
• February 1, 2024: convening of the Automotive Table at the Ministry of Business and Made in Italy dedicated to the new incentive plan, with the participation of the main representatives of the automotive sector companies and the supply chain organizations;
• date to be defined (after February 1st): presentation of the Prime Ministerial Decree with the scheme of the new 2024 car incentives and subsequent start of reservations for the new discounts. Until then, the old incentives remain valid.

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