Why are recent bumps so fast
2021: This is what the new NoVA means for us drivers
The NoVA step-by-step plan
There were already burdens on the new car buyer at the beginning of 2020. From January 1, 2020, the CO2 values, which serve as the basis for calculating the NoVA, were calculated using the so-called WLTP method. With the WLTP method, more realistic (and thus higher) CO2 values were measured in the vehicles. In many cases this has meant higher purchase prices for new cars. The old Nova formula looked like this:
(CO2 emissions - 115) / 5 = NoVA tax rate
Since January 1st, 2021 the value 115 has been reduced by 3. The new formula now looks like this:
(CO2 emissions - 112) / 5 = NoVA tax rate
This will automatically make the tax rate higher than it was before. Before July 1, 2021, the penalty value was 275 g / km, after that it was only 200 g / km. That means: If a car is above this, you have to pay 50 euros (previously 40 euros) for every gram that it is above this. And this limit will be 200 g / km from July 1, 2021.
The previous maximum tax rate was 32 percent. This means that the NoVA could amount to a maximum of 32 percent of the net purchase price. From July 1, 2021, the maximum tax rate will be increased to 50 percent. According to Vice Chancellor Werner Kogler, this primarily only affects “the stinkers”. Logic shows that this is not the case. Practically every car with a combustion engine becomes more expensive.
The electric car as a beneficiary?
Electric cars remain exempt from the standard tax. And that is also the clue of the law. They want to promote environmentally conscious politics and make electric cars more attractive to potential car buyers. With the exemption of the NoVA you can In the future, electric cars will be even more attractively priced Tobe offered.
The electric car subsidies remain in place. All information about the subsidies for electric cars can be found in this article.
What impact does the new NoVA have on the used car market?
We also expect one in the medium term Increase in prices of used cars. As new cars become more expensive, car buyers will increasingly look to the used car market. There is still great skepticism towards electric cars. In the next few years in particular, buyers will still focus on models with internal combustion engines. As a result, there is more demand on the used car market and therefore used cars will cost more.
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