openPR Logo
Press release

Italy Used Car Market is expected to reach about EUR 48.1 Billion in terms of Gross Transaction Value (GTV) by 2023: Ken Research

11-08-2019 01:20 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research

Italy Used Car Market is expected to reach about EUR 48.1 Billion

• The used car sales in terms of volume is expected to increase in the future thereby, growing at a positive CAGR of 3.9%, due to surge in the demand for the younger used cars and acceptance of Electric and Hybrid cars.
• Rome and Milan in Italy are planning to ban the diesel cars entirely by 2024 and adopt the hybrid and electric cars.
• The multibrand dealerships are anticipated to grow with a CAGR of 3.5% and the OEM certified dealerships with a CAGR of 11.9% during the forecast period 2018-2023F

Surge in Demand for Young Used Cars: The Italy used car market is anticipated to grow in the next few years owing to the surge in demand for younger used cars in Italy. The young used cars in Italy are 0-2 year old and driven up to 40,000 kms. Strickter emission norms and rising new car prices have increased the demand for the young used cars in Italy. The customers are afraid to purchase a used car which is more than 3 year old, as they may have to pay a penalty if the used car does not adhere to the emission norms of the country. The rising price of the new cars in Italy is also one of the major reasons for the customers to switch to a young used car as it helps them buy a nearly new car at a lower cost.
Acceptance of Electric and Hybrid Used Cars: Demand for the electric and hybrid cars is anticipated to grow in the future and would eventually lead to the growth of the used car market. Italy is on the verge of banning the petrol and diesel cars entirely from the market by 2030, which would be taken over by the electric and hybrid cars in the market. To avoid any eco-tax on the polluting cars, Italian customers have started to adopt the hybrid and electric cars. The entrance of these e-mobility cars would result in a transition in the Italy used car market, which would further contribute in the growth of the market.
Booming Used Car sales in Italy: Used car market in Italy is growing at a much faster pace in comparison to previous years. For middle average income group, used cars are the popular choices in Italy. Low price, easy availability of spare parts, and higher resale value are some of the reasons that contribute towards the popularity of used vehicles in the nation. Apart from these reasons, used vehicles also help consumers to escape high car value depreciation because high depreciation occurs during first-second years of the purchase of a car. The Eco-incentive system and the economic condition of the country have lead to a downfall in the new car sales, resulting in an increased demand for the used cars in the Italy. The used car sales volume of Italy is anticipated to grow with a CAGR of 3.9% during the period 2018-2023F.
Analysts at Ken Research in their latest publication “Italy Used Car Market Outlook to 2023 – Led by Surge in Demand for Young Used Cars Coupled with Improved Quality and Inspection of Used Cars” believe that the used cars industry in Italy has been growing and is expected that it will expand further owing to the used cars entering the market from car rental companies, surge in demand for young used cars, entrance of used car dealerships in the country, better services provided by the dealerships such as car financing, insurance, inspection and others, rising number of online used car companies and others. The market is expected to register a positive CAGR of 3.9% in terms of sales volume of used cars and 6.0% in terms of Gross Transaction Value (GTV) during the forecast period 2018-2023F.

For more information on market research report, please refer to the link below:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/italy-used-car-market-outlook-to-2023/274061-100.html

Key Segments Covered
• By Type of Market Structure:
 Organized Market:
o Multi-brand Dealerships
o OEM Certified Dealerships
 Unorganized Market
o Customer to Customer
o Online Sales
o Local Dealers
• By Car Make:
 Fiat
 Volkswagen
 Renault
 Ford
 BMW & Mini
 Opel
 Mercedes
 Audi
 Toyota
 Citroen
 Nissan
 Skoda
 Others (Peugeot, Jeep, Dacia, Hyundai, Lancia, Kia, Alfa Romeo, Suzuki, MCC, Mini, Seat, Volco, Land Rover, Mazda, Jaguar, Honda, Mitsubishi, Porsche, Subaru, Maserati, Ssangyong, Dr, Mahindra, Ferrari, Lotus, Lada and few more.)
• By Year of Ownership:
 2000-2002
 2003-2005
 2006-2008
 2009-2012
 2013-2018
• By Kilometers Driven:
 Less than 5,000
 5,000-20,000
 20,000-50,000
 50,000-80,000
 80,000-120,000
 Above 120,000
• By Type of Used Cars:
 Economy/Hatchback
 MPV’s/Sedan
 SUV’s

Key Target Audience
• Offline Dealers
• Online Portal
• Organized Multi Brands Dealers
• OEM Certified Dealerships
• Online Portal
• Private Equity and Venture Capitalist
• Industry Associations
• OEM Manufacturers
• Automotive Manufacturers
• Car Auction Companies
Time Period Captured in the Report:
• Historical Period - 2013-2018
• Forecast Period – 2019F-2023F
Companies Covered:
• Online Dealerships:
 True Car
 Autoscout24
 Bakeca.it
 Alvolante.it
 Autorola Marketplace
 Cargurus
• Offline Dealerships:
 Auto Torino
 Denicar FCA
 Birindelli Auto Srl
 Mocautogroup
 GoodBuyAuto
 Autoquattro
 Schiatti Car Srl
 Auto 500

Key Topics Covered in the Report
• Italy Used Car Market Overview and Genesis
• Italy Used Car Market Supply Chain
• Business Model Prevalent in Italy Offline Used Cars Market
• Italy Used Car Market Size by GTV and Sales Volume
• Italy Used Car Market Segmentation
• Snapshot on Italy Used Car Auction Market
• Government Regulations in Italy Used Car Market
• Trends and Development in Italy Used Car Market
• Issues and Challenges in Italy Used Car Market
• Snapshot on Italy Online Used Cars Market
• Competition Scenario in Italy Offline Used Cars Market
• Italy Used Car Market Future Outlook and Projections, 2019-2023F
• Analyst recommendations
• Success Case Studies in India Used Car Market-OLX

Related Reports
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/uk-used-car-market-outlook/263652-100.html

https://www.kenresearch.ae/automotive-transportation-and-warehousing/automotive-and-automotive-components/malaysia-used-vehicle-market-outlook/262370-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-used-car-market-research-report/212624-100.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Italy Used Car Market is expected to reach about EUR 48.1 Billion in terms of Gross Transaction Value (GTV) by 2023: Ken Research here

News-ID: 1864019 • Views: 156

More Releases from Ken Research

Introduction of Government Policy such as Scrappage Programme coupled with risin …
The stabilization of US-China Trade Relation will positively impact the Taiwan Used Vehicle Market as there will be ease of import and export of used vehicle in the market leading to adequate demand and supply. Vehicles under the age bracket of 2-4 years will account highest market share in terms of sales volume during the period 2018-2025F due to the faster replacement period of a vehicle which is expected to reach
South Korea Cold Chain Market Revenue is expected to grow at a forecasted CAGR o …
• Modern retail businesses, such as hypermarkets, grocery supermarkets, convenience stores and online retailing has rapidly grown over the years driving the demand for cold storage and cold transportation. • The active participation by the pharmaceutical sector due to the growing middle class and the aging population in the country is expected to augment the
India Self Drive Car Rental Market is Expected to reach around INR 2,600 Crore i …
Key Findings: • The market is expected to increase in the future, thus growing at a positive CAGR of 14.6%, due to increased level of investments and strategic partnerships of the players with other service providers. • Entry of new players including OLA Co. and other startups is further expected to stimulate growth in revenues of self drive car rental industry while simultaneously increasing the competition. • Rising income will also play a significant role,
Australia Car Leasing Fleets is Expected to Reach around 425K units by 2023: Ken …
• Total number of small and medium enterprises in Australia is expected to positively grow thus, registering a CAGR of close to 2.8% during the forecast period 2019-2023. The gross value added by the mining industry in Australia is expected to grow at a CAGR of 3.9%, stimulated by the expected continuation of the mining boom during the period. This would be facilitated by a proportionate rise in the corporate demand

All 5 Releases


More Releases for Italy

Virtual Events Market Global Forecast 2018-25 Estimated with Top Key Players lik …
UpMarketResearch offers a latest published report on “Global Virtual Events Market Industry Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 107 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. The report contains basic, secondary and advanced information pertaining to the Virtual Events global status and
Agrochemicals Market in Italy
ReportsWorldwide has announced the addition of a new report title Italy: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “Italy: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A
Italy Proton Therapy Market
Proton Therapy Market in Italy would double by the end of 2021 from its market in 2016. There are currently three proton therapy centers in Italy that significantly increases their capacity to treat more patients. In Italy the first patients were treated with proton beams in 2002 at the INFN-LNS, Catania. Rising significant cancer incidence in Italy will further enhance the proton therapy market of Italy. Italy Proton Therapy Market,
Italy Biopower Market Outl
"Biopower in Italy, Market Outlook to 2025, Update 2015 - Capacity, Generation, Levelized Cost of Energy (LCOE), Investment Trends Regulations and Company Profiles" is the latest report from the industry analysis specialists that offer comprehensive information and understanding of the Biopower market in Italy. Get Sample Report: http://goo.gl/7Agwwf The report provides an in-depth analysis on global renewable power market and global Biopower market with forecasts up to 2025. The report analyzes the
GRAITEC Acquires ERA3 (Italy)
Bièvres, France, September 2nd 2014. GRAITEC, an international software developer of BIM, CAD and structural analysis solutions across the AEC sector, and global Autodesk Reseller is pleased to announce the acquisition of ERA3, based in Italy, and its well established Fabrication Information Management software E3Workshop and E3DSTViewer. This strategic step for GRAITEC builds on an already strong position in the steel market place offering steel customers, with or without 3D steel
WINAICO modules conquer Italy
Press release 6/2012 WINAICO modules conquer Italy Solarexpo and 16MW project in Sardinia successfully completed Creglingen, 31.05.2012 – The official start of the season with the appearance of WINAICO at the Solarexpo, the trade fair for renewable energies in Verona, was a complete success. The Italian subsidiary of Win Win Precision Technology Co., Ltd., WINAICO Italia S.r.l., succeeded in entering into numerous useful discussions, generating new contacts and concluding definitive project agreements. “We are