Will Austrian cars lose all value??

Will austria cars lose all value

Will Austrian cars lose all value??

Austria Car lobby writes to Kurz: No end to the internal combustion engine!

Auto Industry representatives argue with the stated CO2 balance of internal combustion engines. They also fear an early loss of value for millions of cars in Austria.

Vienna/Aurora/Laakirchen – The plan by the federal government and eight other EU countries for a phase-out date for the sale of cars with internal combustion engines continues to enrage the car industry, automobile clubs and hauliers. They are writing to Chancellor Sebastian Kurz (ÖVP) today in an open letter. The core statement of the letter: “This policy of a technology ban is wrong.”

For the CO2 balance in the operation of a vehicle is not the technology of the drive train decisive, but the use of clean energy – green electricity or CO2-neutral fuel. In a life-cycle assessment that goes beyond the operating time and takes into account the CO2 emissions from the production to the recycling of a vehicle, an internal combustion vehicle can even perform better than vehicles with other drive systems, he said. Bans would inhibit innovation and economic development.

No specific phase-out date

In addition, industry representatives from the automotive and transportation sectors warn against an early loss of value for the approximately five million cars currently owned by Austrians.

“A ban on new registrations with the prospect of a general ban on combustion engines directly jeopardizes the resale value of these vehicles. it then directly interferes with people’s assets,” the open letter states. The stakeholders calculate: “Half of car owners have never purchased a new vehicle, and around 70 percent of existing vehicles have a resale value of less than 10,000 euros.”

Within the Austrian automotive industry, which employs around 355,000 people including suppliers and upstream and downstream economic sectors, around 25,000 employees are directly involved in the production of engine or transmission parts.

They are all calling on Chancellor Kurz to oppose a ban on the registration of internal combustion engines in the EU.

There is not yet a phase-out date for Austria. Transport Minister Leonore Gewessler (Greens) most recently referred to a phase out range between 2025, when Norway wants to phase out the internal combustion engine, and 2040, which France is targeting. About two-thirds of new cars in Austria are sold to corporate customers.

Source & Photo: Der Standard

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