The output of motor vehicles, motorcycles wholesale, retail, and repair in Italy has shown a consistent upward trend from 2013 to 2023. In 2023, the sector reached 50.26 billion Euros, marking a substantial increase from previous years. Year-on-year growth was notable, especially in 2017 (9.06%) and 2019 (9.37%), though there were declines, such as in 2020 (-11.92%) due to the pandemic. With a rebound to 44.8 billion Euros in 2021 and subsequent growth, by 2023 the sector exhibited a healthy expansion rate of 7.3%. Over the past five years, the sector's Compound Annual Growth Rate (CAGR) averaged 3.59%, demonstrating robust performance.
Future forecasts from 2024 onwards suggest continued steady growth, culminating in an expected output of 61.05 billion Euros by 2028. The forecasted 5-year CAGR remains strong at 3.07%, with an overall growth rate of 16.3% over this period.
Looking ahead, critical trends to watch include the impact of technological advancements, such as electric vehicles and digital retailing, regulatory changes, and the potential influence of economic fluctuations on consumer spending in the motor vehicle sector.
