Supercar Slump!!

Wattie

Wattie

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Sign of the times...from Italy.

The number of secondhand high-performance cars exported from Italy nearly tripled to 13,633 vehicles in the first five months of 2012, from 4,923 a year earlier, according to auto industry group Unrae.

“Italy is one of the strongholds of supercars, and those vehicles are now disappearing from the streets,†said Giuliano Noci, associate dean of Milan Polytechnic's business school.

“This has a huge symbolic value and shows how deep the crisis is.â€

The exodus reflects weaker overall demand for supercars in the home of Ferrari and Maserati, Fiat SpA's most profitable brands. Sales of super-luxury cars in Italy are forecast to plunge 47 percent to 593 vehicles this year from 1,116 in 2008, according to IHS Automotive, which predicts that sales won't return to pre-crisis levels before 2016.

Cheers Wattie
 
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saywellhq

New Member
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I read somewhere today that a large part of the drop is a clamp down on people not paying their taxes or dodging them. Something along the lines of "if you have a supercar we will investigate how you have so much money".

I've tried to find the article, but i can't for the life of me find it again!!

Andy
 
dickygrace

dickygrace

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I believe, according to a thread discussed on here about 6 months ago, that it's also due to horrendously high road tax charges too.
 
BJL

BJL

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In this months EVO Harry M says the same thing that the high taxes on anything over 250 bhp has caused a massive slump in supercar ownership with most going to Germany. he says that at present there are over 200 458s for sale at knock down prices on one German web site.

I looked at this and there are loads for sale but all are left hand drive and not that cheap. early 458 at around 135k but big miles.

Upside is............less being bought new.................solid residuals when the surplus has been taken up.
 
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saywellhq

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Quiet a good article ------ - http://www.bloomberg.com/news/2012-...bye-to-ferraris-as-la-dolce-vita-expires.html -------- also touches on Dicky's comment about high road taxes.

"On top of the extra levies, supercar-owners are being scrutinized in efforts to flush out tax evaders. Since December 2011, Italian authorities have conducted dozens of raids in wealthy areas, including the ski resort Cortina d’Ampezzo and Portofino on the Riviera. The officials stop supercars to check whether their owners declared sufficient income -- and paid enough taxes -- to support their lifestyles.

Near Venice last month, financial police arrested a 44- year-old man driving a Ferrari F40 for not paying 8 million euros in taxes since 2006. In a July sweep in the northern town of Bergamo, police found that the driver of a 200,000-euro Ferrari F131 had evaded 3 million euros in taxes since 2007.

“Many Ferrari owners want to get rid of their supercars after the financial police came to one of our events near Rome and checked every driver,” said Fabio Barone, who heads the Ferrari owners’ club Passione Rossa. One of the members put a Ferrari 458 up for sale for 143,000 euros after buying it for 224,000 euros last year, he said."
 
Parisien

Parisien

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Thats horrific but understanable if guys are evading paying their countries taxes.


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BJL

BJL

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Some of these guys are clearly very very rich if you look at say 8 million euros unpaid tax on what would be declarable income (if they declared it) means they are clearly grossing a tidy wad. Serve the buggers right.
 
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stevieg

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An interesting post. I holiday in Italy 3 times a year and have noticed the lack of super cars on the road.
 
Parisien

Parisien

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Stevie....I go once or twice a year too...and in last 10 years....only see 1/2 a trip....no change!

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Parisien

Parisien

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They say.....its a sign of wealth, driving anything remotely supercarish in Italy marks you out as a potential kidnap victim......;).....esp the further south of Rome you go........plus they only truly regard them as Sunday cars even when miles and years stacked up

I can't remember when I last saw a 4200/3200 in Italy....a few GTs/QPs yes but only in Milan or Rome



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Taliesyn

Taliesyn

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So basically those tax avoiders in a round about way cause the high road tax!!
Shame there not right hand drives, then we could pick up a bargain or two :)
 
Parisien

Parisien

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Its a national disgrace ....in Italy, the Finance police can come into a shop as k to see till roll, if they see you in street with a new purchase they can ask you to show a receipt, no receipt, then can get fined!


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Wattie

Wattie

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Tell you what, irrespective of tax evasion etc etc you would not want to drive your Maserati in Rome, Milan etc etc.
I'd export mine immediately if I bought one. never seen so many cars with dents, dings, scratches and missing wing mirrors in my life....4 meter super car wouldn't last 5 mins when a smart car can barely survives10!!!

Cheers Wattie
 
Parisien

Parisien

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Well, typically they are owned by the very wealthy/connected, they go from residence to secure private parking.......you never see them parked ordinarily......dingless cars are Masers in Italy......;)


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