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Automotive market 2023: rental boom, +63% in 5 months Automotive market 2023: rental boom, +63% in 5 months

In Italy, the automotive market in 2023 is characterized by the rental boom: +63% in 5 months, 33% of total registrations

June 22, 2023 – 4:30 p.m.

A study on the mobility of Italians in 2023 shows that the car remains central compared to other means of transport and that this centrality does not yet concern electricity, which is spreading very slowly. But what marks the spirits is above all the rental boomvalid for the first 5 months of the year 1/3 of registrations in Italywith an increase of +63%.

72% OF ITALIANS CONTINUE TO PREFER THE CAR

According to research conducted by ANIASA and Bain & Company, approximately 72% of Italians continue to mainly use the car to get around, and only a minority rely on local public transport. These are the two modes of transport that guarantee the mobility of Italians today. Instead, other forms of mobility such as car sharing, bicycles, taxis, scooters are confined to residual percentages. The consumption of four-wheeled mobility is expected to increase further in 2023, as is that of bicycles. In fact, this year 15% of Italians are ready to use the bicycle more than in the past. This would be great news for circulation, for the environment and also for the health and fitness of these people.

AUTO MARKET 2023: THE ELECTRIC VEHICLE IS ONLY WORTH A SHARE OF 3.7%

The car is therefore still very solid, provided that it is endothermic. The coveted green transition is currently struggling to materialize, with the electric car which do not yet fully convince the Italians. Indeed, those who find it difficult to change car prefer to move towards hybrid cars (especially sweet), confining BEVs to a market niche which over the first 5 months of 2023 did not exceed 4% (precisely 3.7%). Meanwhile, hybrid cars performed well, reaching 35% (my 26% are mild hybrids, which have a very limited impact on the actual reduction of emissions). The reflection of these consumption choices is evident in our cities: in the first 5 months of 2023 average emissions from new vehicles have increasedcompared to 2022, from 118.5 g/km to 120.3 g/km.

1/3 OF CAR REGISTRATIONS IN ITALY CONCERN RENTAL

Also according to the study, in 2022, due to the uncertain economic situation, 6 out of 10 Italians decided to cancel or postpone the estimated car purchase. But precisely in this phase of great uncertainty, one of the cornerstones of the Italian automotive market undoubtedly remains the constant and unstoppable rental growthespecially the long term one. Indeed, the share of rentals to individuals continues to grow steadily to the detriment of purchases, which have been declining for several years thanks to some fees and the possibility of spread over several years the risk of an innovative and expensive technological product. For example, over the first 5 months of 2023, with an automotive market recovering compared to 2022 (+26%), vehicle rental recorded strong growth (+63%)which drove the entire automotive sector, reaching a stable share for the first time 33% of national registrants.

A development that places power supplies with low or zero environmental impact at the forefront: companies in the rental sector have in fact recorded the 30% electric cars in Italy and the 54% of plug-in hybrids. The fleet of more than 1.2 million vehicles is now made up of all Euro 6 vehicles, as well as hybrid and electric vehicles, which can count on significantly reduced emissions compared to those on the road: -80% CO ( carbon monoxide), -98% HC (hydrocarbons), -98% NOX (nitrogen oxides), -92% PM (particulates).

Source : Sicur Auto

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