Key Market Indicators
**Italian Vehicle Registration Projected to Climb to 2.2 Million Units by 2028** Italian vehicle registration is expected to reach approximately 2.2 million units by 2028, up from around 2.16 million units in 2023. This represents an average annual growth rate of 0.5% over the period. Since 2010, Italy's vehicle registration market has seen a modest year-on-year growth of 0.4%. In 2023, Italy ranked 19th globally in vehicle registrations. The United Kingdom surpassed Italy with a similar registration figure of 2.16 million units. Canada, China, and Austria occupied the second, third, and fourth spots, respectively, in the global ranking. **Italian Vehicle Production Expected to Decline to 635,000 Units by 2028** On the production front, Italian vehicle manufacturing is forecasted to decrease to roughly 635,000 units by 2028, down from approximately 834,000 units in 2023. This decline corresponds to a compound annual growth rate (CAGR) of -4.3%. Since 2002, Italy's vehicle production has been on a downward trajectory, averaging a yearly decline of 4.7%. In 2023, Italy also ranked 19th globally in vehicle production. The United Kingdom again outpaced Italy with a production figure of around 834,000 units. The United States, Japan, and Germany took the second, third, and fourth positions, respectively, in the global production rankings.
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