Fiat loses USD14,000 on every Fiat 500e it builds
Even with this fact, Italy wants more electric cars on their roads. Last year, data from the European Automobile Manufacturers Association showed only 2,600 electric cars were sold in Italy, along with other 2,200 plug-in hybrid vehicles. The country has fewer than 5,000 electric cars registered today. That number puts it last among 16 large Western European countries.
Selling 1 million electric cars would transform Italy into the No. 1 market for electric cars in Europe and require government incentives larger than those in Norway, currently Europe’s clear leader in electric car sales. Between tax breaks, exemptions from tolls, free parking and more, Norway’s incentives are estimated at USD10,400 per electric car.
To sell 1 million electric cars could cost Italy USD10 billion in incentives, according to Italian auto industry analyst Promotor research institute.
The governing contract calls for a reduction in petrol and diesel cars through a cash-for-clunkers program. Rome has issued a ban on diesel cars in the city starting in 2024.
Few Italian automakers build electric cars and Sergio Marchionne, CEO of the country’s largest automaker Fiat Chrysler Automobiles, has expressed skepticism of electric cars and said the company loses USD14,000 on every Fiat 500e it builds.
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