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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:

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
 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

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications

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.

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