Italy is selling hundreds of BMWs, Jaguars and other luxury cars on eBay to cut costs
eBay

Italy's new government is cleaning out its garage. Prime Minister Matteo Renzi is putting 150 flashy government-owned vehicles for sale on eBay in an attempt to cut costs as the country aims to reduce a 2 trillion euro debt. Bidding ends April 15 for dozens of Alfa Romeos, BMWs, Lancias, and even a Maserati.
Although selling the cars won't do much to dent Italy's massive debt, the move is a symbol of Renzi's promise to cut back on ostentatious spending during a time of economic hardship. Currently, most of the bids are for a grey Alfa Romeo 166 that's going for 8,600 euros.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Jordan Valinsky is the lead writer for Speed Reads. Before joining The Week, he wrote for New York Observer's tech blog, Betabeat, and tracked the intersection between popular culture and the internet for The Daily Dot. He graduated with a degree in online journalism from Ohio University.
-
'Alaska has the resources, but America needs the will'
Instant Opinion Opinion, comment and editorials of the day
-
Nvidia hits $4 trillion milestone
Speed Read The success of the chipmaker has been buoyed by demand for artificial intelligence
-
X CEO Yaccarino quits after two years
Speed Read Elon Musk hired Linda Yaccarino to run X in 2023
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read