New negative result for car registrations on the Italian market. In October, sales fell by more than 9% compared to the same period last year, despite there being one more working day, stopping at 126,500 units. According to data communicated by Unrae, a total of 1,328,663 cars were registered in the first ten months of 2024, with a growth of less than 1% compared to 2023.
The full electric car (BEV) segment saw a setback, with market share falling to 4% in October, compared to 5.2% in September. Plug-in hybrid cars (PHEV) remained stable at 3.4%, bringing the overall share of “rechargeable” models to 7.4%.
The incentives, now almost exhausted, have shown a limited capacity to further stimulate the market. An overall balance sheet reveals that, despite the investment of one billion euros to support demand, the result will be to keep registrations in line with 2023 levels.
«Thanks to the slight increase recorded in the first part of the year, 2024 should end – anticipated Gian Primo Quagliano, head of the Promotor Study Center – with around 1.6 million registrations».
As for automakers, Fiat continues to lose ground, with a 43% decline in October and a 13.5% contraction since the beginning of the year, bringing its market share below 10%. This month, both Toyota/Lexus and Volkswagen outsold the Italian brand in volume.
