Demand for cars in Italy has never been as robust as it is now. Last year individuals and businesses, including renters, spent 46 billion euros on nearly 1.6 million new cars registered. A figure never touched even when sales reached 2.5 million units and revenues approached 45 billion euros. Perhaps the most interesting figure is the average net value of registered cars, which came in at 28,800 euros compared to 21,000 euros before COVID-19. The average annual increase in 2019/23 was 8.3%, while it had been just 2.5% between 2013 and 2019. The effect is largely due to rising list prices, which were partly mitigated last year by a rebound in discounts and zero miles, which are making a comeback in the commercial strategies of manufacturers after bottlenecks in production were overcome. Stellantis also leads in value with 27% of the market against 33 percent in volume, followed by the Volkswagen Group with 18 and 16% respectively and the BMW Group with 8 and 5%.
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