Car registrations are growing again in Italy. After months of volumes in line with last year and a contraction due to the wait for bonuses, on Italian automotive market the first effects are visible new incentives 2024. In the month of June, in fact, the car registrations increased by 15%. According to data provided by Unrae (National Union of Foreign Motor Vehicle Representatives), there were a total of 160.046 registrations compared to 139.150 in the same month of 2023. Looking at the first six months of 2024, the Italian automotive market recorded 886.386 new cars, an increase of 5,3% compared to the 841.573 in the January-June 2023 period, but still below 18,2, 2019% compared to XNUMX.
The merit of this growth has only one name: le electric cars. The good result in June is due exclusively to the registrations of electric cars, thanks to the incentives launched by the Government and made available to the public starting from 3 June, sold out in just one day.
With the incentives there was a boom in electric cars
Incentives for electric cars (Bev) they had a central role in relaunching sales. BEVs had a real boom, reaching 8,3% market share (13.415 registrations), an increase of 4,7 percentage points compared to the previous month and 3,9 points compared to June 2023. Phev car (plug-in hybrid electric vehicle) have a market share of 3,5%, stable compared to May but down 1,9 points compared to June 2023.
The fund for the 0-20 g/km of CO2 range, with an allocation of just over 200 million euros, was sold out in just nine hours, a sign of high demand. Michael Crisci, president of UNRAE, underlined the insufficiency of funds to cover all requests, hoping for a rapid release of the 240 million remaining funds to encourage the energy transition: "The allocation of just over 200 million of the fund for the 0- 20 g/km of CO2 has been proven insufficient to cover all customer requests“, Crisci explained, “a situation that is reflected today in the acquisition of new orders, which is essentially at a standstill. Therefore, we expect that i 240 million of residual funds already allocated for incentives, can be readily made available by the Government, in order to encourage the energy transition and reduce the continuing gap with the more advanced markets".
According to the President of Unrae “it is urgent that the Government indicate as soon as possible which direction it wants to take to facilitate the transition path, both for the necessary and current refinancing of the fund, and on the strategy to be followed in the next 2-3 years".
Cars: sales in Italy in June
In June 2024, the Italian car market recorded a 15% increase in registrations compared to the same month of the previous year. THE private individuals they represented 59,5% of the total market, with an increase of 5,3 percentage points. The self-registrations increased to 13,6%, while the long term rental fell to 18,8% market share.
Having said about the boom in electric cars, let's look at the sales of other foods: the hybrid cars they covered 38,7% of the market, with the full hybrid to 11,1% and the mild hybrid at 27,6%. The petrol car, despite growing in volume, saw a reduction in market share to 26,5%, while the Diesel it fell to 12,8%. The LPG car recorded an increase, reaching 10,1%, while the methane it remained marginal with less than 0,1% of the market.
From the point of view of segmentation, the sedans and SUVs of A-segment saw a strong increase, representing 12,5% and 2,9% of the total market respectively. The sedans of segment B they grew to 22,3%, while SUVs in the same segment recorded a decline to 24,3%. Even the sedans of the D-segment they recovered, rising to 2,5%.
Geographically, the northwest regained market leadership with 29,7% share, followed by North East coast with 29,1%, despite a decrease compared to the January-June period. Central Italy represented 25% of registrations, while the South and the Islands recorded 10,9% and 5,2% respectively.
Average CO2 emissions from new registrations decreased by 5,5% in June 2024, falling to 112,5 g/Km, thanks to the increase in the share of electric cars. In the first half of 2024, average emissions were 119,6 g/km, a reduction of 0,3% compared to the same period in 2023.
Car market: Renault booms, Stellantis rises, Volkswagen down
Speaking of automotive groups, as of June 2024, the group Renault has recorded impressive growth of the 46,67%. The brand contributed to the boom Dacia with 11.750 registrations (+50,58%), while Renault saw 10.699 registrations (+42,60%).
stellantis it closed the month with an increase of 10,64%. However, the performance of the individual brands have been variegated: Alfa Romeo suffered a decline of 55,02% (1.358 units), while Citroen recorded an increase of 84,43% (7.689 units). DS saw a decrease of 37,68% (425 units), Fiat dropped by 29,99% (16.918 units) and Maserati saw a decrease of 55,13% (213 units). Lancia had a slight decrease of 7,90% (4.149 units), while Peugeot recorded a decrease of 8,98% (6.906 units). Jeep recorded growth of 3,95% (6.451 units) and Opel saw an increase of 4,81% (4.181 units).
Il Volkswagen Group showed a slight decline of 0,38%. Audi saw an increase of 4,27% (6.813 units), Cupra grew by 2,33% (1.671 units), Lamborghini recorded a notable increase of 43,90% (59 units) and Skoda grew by 6,13, 3.295% (21,73 units). Seat saw a decline of 998% (2,98 units) and Volkswagen saw a decrease of 11.076% (XNUMX units).
Global boom in Chinese electric cars
Le Chinese electric cars are gaining ground in global markets. A real boom that risks shaking the throne of the queen of electric cars, Tesla. Byd, a Chinese automotive brand, scored a record sales in the second quarter thanks to the strategy of lowering prices and technological innovation that has aroused the interest of consumers. Second Bloomberg, the Chinese brand sold almost a million vehicles during this period, consolidating a recovery after a slow start at the beginning of the year. There price reduction on many models it has contributed to stimulating sales, even to the detriment of profitability, to compete effectively with the petrol models of foreign brands.
In the quarter, BYD placed 426.000 electric vehicles on the market, closing in on Tesla as the top global seller of electric cars. By contrast, Tesla, expected to sell 441.019 electric cars in the second quarter according to analysts, is experiencing a sales decline in key markets such as China and Europe. Other players in the Chinese automotive sector, such as zeekr e Nio, also reported record sales in June. zeekr delivered 20.106 cars, bringing total 2024 sales to 87.870 vehicles.
The growth in Chinese electric car sales is not just a domestic phenomenon. BYD increased exports, exceeding 100.000 units in the second quarter of 2024, a record for the company. However, trade tensions between China and the European Union could impact future sales. The EU will introduce new duties on Chinese electric cars from July 4th, increasing the cost of Chinese cars in Europe and potentially triggering a trade war.
