Italy 2024. In February Car Sales Up in Double-Digit (+12.8%)

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Italian Autos Market starts off 2024 with a solid growth. Total sales in February reached 147,094 units (+12.8%) scoring the 19th increase in a row. Fiat still on top of the list 11.6% market share.

Market trend and Outlook

The Italian auto market has started off strong. January grew for the 19th consecutive month, with new registrations reaching 147,094 (+12.8%). YTD sales reach 289,440 registrations (+11.9%).

Looking at cumulative data up to February 2024 brand-wise, Fiat reports the most sales at 33,473 (+0.7%), followed by Toyota -up 1 spot- at 20,975 (+17.5%) and Dacia -up 1 spot- at 19,293 (+17.1%).

Volkswagen loses 2 spots into 4th position with 19,244 sales (-14.0%), in front of Peugeot -up 3 spots- with 15,973 units sold (+36.9%), Jeep -up 1 spot- at 13,778 (+7.5%) and Renault -down 1 spot- in 7th with  13,252 registrations (-3.6%).

Citroen rises 2 spots into 8th with 12,990 sales (+40.3%), in front of Audi at 12,921 (+27.0%) and Ford -down 5 spots- in 10th with 12,669 registrations (-8.9%).

Looking at specific models the Fiat Panda maintains leadership selling 20.5% more models compared to the previous year, followed by the Dacia Sandero slightly far behind in second despite being up by 42.4% in YTD sales.

Medium-Term Market Trend

In the last decade the Italian market has had many ups and down. Starting at 1.8 million sales in 2010, it had 3 consecutive years of negative y/y sales with a minimum of 1.29 million reached in 2013. From 2014 up to 2019 the overall trend was positive, reaching a maximum in 2018 of nearly 2 million sales.

At the end of 2019 the Italian market was standing at 1.9 million sales, but with the pandemic in 2020 the market took a substantial hit, moving to the 1.4 million mark. This -27.1% drop marked the Italian auto-market for the following years.

Post-Covid hasn’t looked too good for demand in the Italian market. 2021 showed a slight sign of recovery (+8.9%) that faded away in the following year. In fact, 2022 totaled 1.32 million sales, the lowest of the decade and a 9.6% decrease from the prior year. Despite the overall downtrend, the market did grow in the last 5 months of the year and luckily the momentum continues going into 2023, that started very strong.

There are still some issues that the market will have to confront if it wants to recover from the fall of 2022: first of all the current European sentiment that is pushing more towards EVs  is putting negative pressure on demand; and secondly in the last year we have seen a disruption in the global supply chain caused by a lack of raw materials, in particular for microchip production, that has lead manufactures to increase overall prices.

The Italian auto market performed very well, with yearly sales closing at 1.57 million, 18.9% higher than the prior year.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 models.

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