Electric cars? No thanks, the Italians prefer safe second-hand. In recent years, the used car market in Italy has seen a real boom, becoming the dominant automotive sector in the country. In 2023, approximately 2,9 million used car transfers were recorded, marking an increase of 6,6% compared to 2,7 million in 2022. This is surprising when compared to new car sales, which stopped at only 1,566 million.
A demonstration of the clear Italians' preference for used cars, largely motivated by the need to contain expenses, both for the initial cost of the cars and for the management costs. Furthermore, the drivers feel more at ease opting for traditional combustion engines, such as diesel and petrol, rather than electric or hybrid.
The growing economic difficulty and an unfavorable taxation on the purchase of new vehicles have further fueled this situation. To complicate the picture, there is the lack of clear emissions regulations and driving bans in several cities, forcing car manufacturers to find solutions to incentivize the purchase of more sustainable vehicles.
For Sergio Lanfranchi of the Autoscout24 Study Center, the used market in Italy is demonstrating remarkable resilience. Despite the absence of government incentives, the sector continues to close the year with positive results, thanks to a constant demand, less volatile than that of new registrations: "the Italian second-hand market is solid – says Lanfranchi – and a positive closing is expected for the end of the year, thanks to its resilience and the limited influence of external factors such as government incentives or the choices of the manufacturers, resulting in it being less volatile than the new market”.
Diesel and petrol cars: the favourites of Italians
Contrary to expectations of a rapid transition to electric vehicles, the Petrol and diesel cars continue to dominate preferences of Italians. Recent data from Unrae indicate that, in the first half of 2024, 45,4% of used car sales concerned diesel vehicles, while 38,7% concerned cars petrolHybrid, LPG and methane-powered vehicles cover 7,3%, 4,9% and 2,2% respectively.
Le electric cars, in stark contrast, represent only 1% of the market, a sign that, despite the available incentives, Italians are not yet ready to abandon the more traditional options, preferring the safety and reliability of internal combustion cars.
Used car market: price also matters
Il average price of used cars recorded a slight decline, settling at 2024 euros in September 21.480, with a decrease of 6% compared to the previous year. For the newer cars, those aged between one and three years, the average price rose to 33.661 euros. A more in-depth analysis shows that the Electric cars are experiencing a contraction in demand, with an average price of 26.485 euros, down 15,9% compared to last year. In comparison, petrol cars are sold at an average of 22.090 euros, while diesel cars stand at 18.470 euros, with hybrids at 32.830 euros, showing a decrease of 6,1%.
For Guido Bevilacqua, head of Spoticar, "the used car market is returning to pre-pandemic levels", thanks to a greater availability of vehicles and a more pronounced devaluation of new cars. The increase in demand for used cars is also linked to the lack of replacements in the current car fleet, which is affected by a shortage of new models available.
La stability of the second-hand market is favored, in fact, by the scarcity of available new cars, a problem that has pushed many motorists to look for cheaper options. According to Lanfranchi, this scarcity contributes to maintaining the competitive prices in the used sector. The growing demand for used cars has therefore made the purchase of a second hand vehicle an increasingly advantageous option for Italians.
The obsolescence of the Italian car fleet is worrying
Despite the boom in the second-hand market, there are concerns about the aging fleet. According to Unrae, in the first half of 2024, 47% of ownership transfers concerned cars over 10 years old. Massimo Artusi, president of Federauto, warns that without an adequate renewal of the car fleet, theItaly risks facing a “Cuba effect”, with a high percentage of obsolete and inefficient vehicles circulating on the roads.
Used cars: opportunities for car manufacturers
But, the second-hand market also represents aopportunities for car manufacturers, that, in a difficult period for sales, are taking the opportunity to build customer loyalty through the used market. Over the past four years, the price of cars has increased dramatically, with the average cost per car rising from around €21.000 in 2019 to almost €29.000 in 2023, an increase of 38%. It is therefore not surprising that many manufacturers, struggling to sell recent models, are paying more attention to second-hand cars. An example is Spots, the Stellantis division, which in 2023 recorded a 37% growth in sales compared to the previous year, with approximately 300 active showrooms.
Programs like the “Certified"of Mercedes They offer warranties on used cars, seeking to attract new buyers interested in premium brands. This approach not only supports sales, but also aligns with environmental sustainability goals by limiting the offering to vehicles that are no more than six years old.
And then, in this context, there is Autotorino which during the year launched “BeBeep“, a brand completely dedicated to the used car market. This project stands out for its specialization and aims to satisfy a diversified clientele, simplifying the purchase of used cars and guaranteeing accessibility and quality, thanks to the company's experience of over fifty years in the automotive sector. BeBeep offers over 3.000 vehicles, mainly internal combustion cars, but also including low-emission models such as electric, hybrid and plug-in, accessible through various channels, including Autotorino's social pages and website, as well as dedicated spaces in the group's 70 dealerships.
Used cars: an intermediate solution towards sustainable mobility
If the ecological transition of the sector is hindered by the failure to spread electric cars, the used car can represent a immediate solution for those looking to reduce their emissions. Analysis by AutoScout24 reveals that over 50% of used cars available are Euro 6, highlighting a greater availability of low-emission vehicles. This makes buying used cars not only a more accessible option, but also a step towards more sustainable mobility.