The automotive market in Italy in 2023 closed with a total growth of 19%. registration car, but the annual budget should be analyzed beyond volumes. According to data provided by Data Force, the passenger car sector registered approximately 111,500 cars in December, with a growth rate of +5.8%. Numbers aside, the car market by 2023 also needs to be interpreted from the perspective of a litmus test of purchases that immediately find users; otherwise, they are diverted retailers multi-brand or find a way to export abroad. It is true that in 2024, new environmental incentives will apply mainly to cars made in Italy. Chinese car manufacturers are increasingly looking for groups interested in distributing models made, partially or completely, in China while organizing themselves for production in Europe.
ITALY CAR REGISTRATIONS 2023: ONLY 4% ARE BEVERAGES
In 2023, the Italian car market will have registered 1,572,144 cars for passenger transport (approximately +18% compared to 2022). This performance is strongly influenced by the increase in car registrations (+42%). One of the most obvious notes is undoubtedly the modest penetration of electric cars in the Italian market, despite the trends, which account for only around 4% of total EV sales in Italy. Below are the details of car registration in Italy by fuel according to Data Force processing:
- Gasoline and mild hybrid: 776,757 registrations;
- Diesel, Biodiesel and Mild Hybrid: 357,028;
- Full hybrid gasoline: 159,278;
- LPG + methane: 143,461;
- Plug-in Hybrid: 69,344;
- Electric: 66,276.
It’s true that In 2024, environmental incentives for endothermic cars will also return, but an interesting comment by Salvatore Saladino on LinkedIn, which you can learn more about below, says: “I remain convinced that the infrastructure is not the biggest problem; the problem is telling this story that is still being told and who is amplifying it.â€
KM0 CAR REGISTRATIONS ARE GROWING: THE MOST ACTIVE BRANDS
The increase in car registrations that we discussed in this in-depth study on electric vehicles pushed, with the growth of +42% in December achieving quarterly results. According to Dataforce calculations, in 2023, they will be outside of the 160 thousand cars registered with authorized dealers (50 thousand more than in 2022). Many of them, especially electric and plug-in, will not immediately find a private buyer who benefits from the economic advantage of new cars with non-modifiable license plates.
Compared to the market average of 10% of cars per km0, the following brands use self-registration the most:
- DR Car: 25% of km0;
- Fiat: 22.2%;
- Lance: 20.6%;
- Citroën: 20.5%;
- Jeeps: 18.7%;
- Peugeot: 17.5%;
- Opel: 16.5%.
DEFERRED PURCHASES AND UNCERTAINTY FOR 2024
The year just ending seems to have seen many buyers put off their new car purchases until 2024 to take advantage of available incentives, which have only been officially announced in recent weeks. However, order inflows for next year appear to be lower than expected, as the conservative pointed out in the Dataforce 2024 Forecast, which predicts an increase in passenger car registrations by only +3.7%. While on the one hand, the incentives for cars will be aimed at protecting Made in Italy, the weight of China should not be underestimated for various reasons:
- Chinese automakers are already placing numerous numbers on the Italian market gasoline models through importers and assembly companies (see Koelliker and Dr. Automobiles, which is, however, the subject of an antitrust investigation due to the Italian nature of its main claim);
- Investments by the Chinese automobile industry are becoming more and more massive Operations and production centers in Europe (see BYD, already the first car manufacturer in China to open a factory in Hungary);
- If the strength of vintage car manufacturers has always been an extensive network throughout the territory, the Chinese car manufacturers have already shown that they are not interested in having official dealers and workshops. For now, they prefer to rely on large dealer groups (such as Autotorino, Intergea, and Barchetti for BYD) who offer service and assistance like any other brand (will have to understand how effective they will be in troubleshooting and the availability of spare parts). But as we found out in our investigation, Chinese car manufacturers can already count on a significant base of workshops in Italy.
