The European car market is showing sustained growth, extending over 13 consecutive months up to August, with a remarkable 20.7% increase in registrations compared to August 2022, reaching 904,509 registered cars. However, this growth still represents a 16% decline when compared to the pre-pandemic levels of August 2019. The positive trend continues over the first eight months of the year, with a notable 17.9% increase in registrations totaling 8,516,943 compared to the same period in 2022, though it remains 21.4% lower than the same period in 2019. All five major markets, including Italy, Germany, the United Kingdom, France, and Spain, experienced growth in August, with Germany leading with an impressive 37.3% increase, while Italy showed an 11.9% rise. Notably, electric vehicle adoption in Italy remains lagging compared to other major markets, primarily attributed to delayed incentive activation and inadequate charging infrastructure.

In the realm of electric vehicles (EVs), the Italian market lags behind its European counterparts, constituting 9.1% of the total market in August, with BEVs and PHEVs contributing 5.0% and 4.1%, respectively. This is significantly lower than Germany, where BEVs account for 31.7% and PHEVs for 5.3%, showcasing the need for stronger incentives. The market share of EVs in the European market also indicates a promising future, with BEVs holding a 21.7% share in August, a substantial increase of 8.7 points, while PHEVs account for 7.5%, albeit a slight decline of 0.8 points. In the broader context, addressing the slow uptake of EVs in Italy is crucial, necessitating robust incentives and infrastructural development to align with the sustainable automotive future that Europe is progressing towards.

Source:
https://tecnogazzetta.it/smart-car/2023-09-24-europa-mercato-agosto-unrae-italia-bev-phev.html