The Covid-19 pandemic has hit various sectors, the Italian car market was no exception, which closed 2020 with a lost in registrations of 14,9% in December (only 119,563 cars were registered) and 27, 9% from the beginning of the year.
The 2020 has been called the black year of the car, Europe market in 2020 has lost a quarter of its volumes. In fact, registrations in Europe, including the United Kingdom, fell by more than 24%, the most significant decline in registrations was recorded in Croatia (42,8%).
Looking at the performance of the main players in the market, the most affected brand was the Ford one, which it lost by 31,7% of registrations. Volkswagen in the year 2020 lost 21,7% of registrations, FCA 26% and the PSA Group 30,3%. The German company BMW and the Korean company Hunday lost 19,2% and 21% respectively in the year. While Toyota had a limited decline in registrations (13%).
In January 2021 in Italy there were 134.000 registrations of new cars, 14% less than in the same period of 2020. The data shared by the Italian Ministry of Infrastructure and Transport, regarding the first 10 registered models, shows a predominance of the Fiat brand. In January 2021 has been registered 12.088 Fiat Pandas, in second place in the ranking there is the Toyota Yaris with 4.284 registrations, while in third place again an Italian brand Lancia Ypsilon with 4.047 new cars registered.
In the same period of January 2021 were recorded 259.244 transfers of ownership of used cars, with a variation of -23,5% compared to January 2020.
According to the Centro Studi Promotor, the global decline in the car market was contained thanks to the incentives. This positive response of Italians to the incentives denotes their propensity to buy cars, despite the inconvenience and economic concerns. New cars, maybe electric or hybrid to benefit of the positive implications in terms of pollution and road safety.
The January 2021 data according to Unrae represent a confirmation of the association’s estimate that in 2021 the Italian car market will record a growth of 9%, but only in the second half of 2022 will it return to pre-Covid levels (2019).