|Basic parameters of France’s feebate system. Click to enlarge.|
French environment minister Jean-Louis Borloo declared a bonus/malus (“feebate”) system introduced to encourage car buyers to make greener purchase choices a success.
According to official figures, sales in France of vehicles consuming less than 130 g/km CO2 increased 45% increase in the eight months since the scheme was introduced. In that time, average CO2 emissions from new cars sold fell by 9% (8 g CO2/km). There was, however, a surge in purchases of 4x4s between the scheme’s announcement and its introduction.
The highest bonus for the buying the lowest carbon car (below 60 g/km—essentially only EVs qualify) is €5,000 (US$7,349), while the highest malus (extra tax) is €2,600 (US$3,821). Buyers of low emissions vehicles who also scrap a vehicle older than 15 years receive a super bonus of €300.
In 2007, nearly 50% of the vehicles sold in France emitted less than 140 g CO2/km, according to ADEME (Agence de l’Environnement et de la Maîtrise de l’Energie). Vehicle CO2 ratings are available on the ADEME site.
The cost to France’s budget is reported to be around €140 million (US$206 million) because of the greater-than-expected impact of the scheme.
Encouraged by the early indications from the scheme, Borloo has called for the system to be applied to other types of products, including televisions, computers, tires and some electrical products.
(A hat-tip to Chris!)