Italian Luxury Taxes Threatening Supercar Industry

The 204,000-euro Ferrari 458 Italia has never been a particularly common sight, even on the autostrade of its native Italy. Today it’s becoming even rarer as austerity measures spur Ferrari owners to export supercars by the truckload.

A crackdown on luxury goods combined with budget cuts that have pushed Italy deeper into its fourth recession since 2001 are souring demand for sporty cars and other symbols of the country’s carefree lifestyle. 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.

Read Article

CarCrazedinCali - 8/16/2012 7:40:40 PM

+1 Boost

tax the shit out of these exotics, if they have that kind of money to throw away on a depreciating asset, then tax the hell out of it

Holydude - 8/17/2012 2:54:48 AM

+1 Boost

Guess you don't have one then...