Cars: the Italian market grew by 4.8 per cent in October, up 8.3 per cent since the start of the year
At Stellantis, the recovery of the Fiat brand continues – with registrations from Chinese manufacturers driving the market
The car market in Italia is slowing down but remains buoyant, with 131,000 cars registered in October, a 4.8 per cent increase compared with the same month last year. These figures bring the total number of cars registered since the start of the year to 1.4 million, an 8.3 per cent increase over the first ten months. Within Stellantis, the Fiat brand continues its recovery, whilst the group’s other brands have not performed quite as well this month.
Among European manufacturers, Renault is performing well, whilst Volkswagen has seen its sales volumes fall by over 4 per cent, with Toyota, by contrast, recording 5 per cent growth for the month. Sales volumes continue to be driven by Chinese manufacturers, which are racking up registrations with double- or triple-digit growth rates, matching and sometimes exceeding the market share of long-established names such as Audi, Mercedes and BMW.
With 6,000 new registrations, BYD secured a market share of four and a half points for the month, on a par with MG, the other major Chinese manufacturer; it outperformed prestigious brands such as Audi and consolidated its market position since the start of the year. Leapmotor has increased the number of cars registered tenfold over the course of a year and is approaching a 2 per cent market share. Omoda and Jaecoo, part of the Chery Group, are also performing well,
As regards the European automotive industry, the manufacturers grouped within the ACEA association are calling for “substantial progress in the negotiations on the ‘automotive package’, so that it can be finalised at the start of next year”. It is time for the EU to “reform the legislative framework in order to facilitate the achievement of the threefold objective of decarbonisation, economic security and safeguarding jobs”, emphasised Ola Källenius, ACEA President and CEO of Mercedes-Benz.
The industry, in particular, disputes the method introduced by the EU – “Setting targets accompanied by penalties is not the right solution,” they write – and calls for greater respect for consumer choice and for the protection of jobs. As for CO₂ emission reduction targets, this should go hand in hand with recognition of the role of renewable fuels. In this context, they suggest, ‘a well-calibrated five-year “averaging” mechanism, operational from 2028, could represent the most effective incentive Europe can offer for electric vehicles.’
