Italy Electric Car Market

Posted June 1, 2021 by pallavivn

Italy Electric Car Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 4.6% from 2020 to 2027, reaching US$ XX Mn.
Italy Electric Car Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 4.6% from 2020 to 2027, reaching US$ XX Mn.

Italy Electric Car Market

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Italy Electric Car Market Drivers & Restraints:

Out of an entire number of more than 50 Mn vehicles on the street in Italy at the end of 2018, about 6,000 were battery electric passenger cars while about 120,000 were petrol & diesel hybrid passenger cars. In 2018, total new passenger car recordings raised by about 16 percent compared to 2017, reaching a total of 1,824,568; new BEV passenger car recordings slowed down by about 5.3 percent compared to the last year, while new plug-in hybrid electric passenger car recordings raised by about 63 percent; fully, new electrically chargeable passenger cars raised by about 20.7 percent. Also, new hybrid passenger car recordings improved significantly for 2016, with a rate of 47.2 percent. New other alternative fuel passenger car recordings had a major reduction by about 20.7 percent.
Italy’s Tiny EV Market Doubles Again:

It has taken a long time, but Italy’s electric car market is finally starting to take off. Official numbers as confirmed by MMR around 10,566 battery-electric cars were sold in the Bel Paese in the twelve months of 2019, doubling 2018 sales & combining a trend of exponential growth that began two years ago. Italy is the fourth leading car market in Europe after Germany, France, & the UK. With nearly 2 Mn cars sold yearly, an unbelievable automotive history, & Italy’s sustainability licenses from renewable electricity to green buildings to smart grid technology one would expect this to be the flawless market for early EV adoption. Italy’s electric car market is still very small, with ~10,000 Electric Vehicles accounting for only 0.5 percent of the nation’s total car sales in 2019. But there are numerous marks for optimism, trends which show that Italy & other key countries will soon be shifting away from very low Electric Car Market share into normal adoption.

The most critical problems hindering electric car sales so far have, probably, been the high value & very limited diversity of models on offer. In a nation where city cars lead & the average selling value is around 20,000€ (with 22% VAT), the partial choice of BEVs & their initial value typically above 30,000€ have signified a tough barrier for most. Possibly just as significant, awareness has played a big role.

The Italian Electric Car Market has developed five-fold over the last 2 years. With more cheap, compelling completely electric models finally entering the scene, the barrier to Electric Vehicle ownership has started to disappear. Further, the introduction of financial incentives at the state & regional levels in spring 2019 has also boosted demand. Sales of fully EVs thus raised to 5,000 in 2018.
Recent Industry News

The automotive industry has witnessed almost a complete shutdown of unusual percentage in comparison to other sectors as the nations worldwide are hit by severe lockdown in April this year. But it is noteworthy that Italy’s full-electric cars only lost about 58% of its sales as compared to April 2019. Moreover, out of all Italy’s car sales in April electric cars made an unbreakable record of 11.6% sales.

Italy will be joining France and Germany to revive the automotive industry in this coronavirus crisis. As per Italy’s transport ministry data, new car registrations in Italy dropped by 46% in the first half of this year and it is estimated to 700,000 units by the end of 2020.

Fiat Chrysler, Italy’s largest automaker, is planning to roll out its first alternative engine model with an electric version of the Fiat 500 small car this summer.

The objective of the report is to present a comprehensive analysis of the Italy Electric Car Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Italy Electric Car Market dynamics, structure by analyzing the market segments and project the Italy Electric Car Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Italy Electric Car Market make the report investor’s guide.

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Italy Electric Car Market, By Technology

Italy Electric Car Market, By Product

• Hatchback
• Sedan
• Others
Italy Electric Car Market, By Battery

• Li-NMC
• Others
Italy Electric Car Market, By Battery Capacity

• >201 Ah
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Last Updated June 1, 2021