The turnover in the sale of motor vehicles in Italy has shown significant fluctuations over the past decade. The value peaked in 2016 at €29.23 billion, followed by consistent declines in subsequent years. As of 2023, the turnover stands at €19.37 billion. Over the past two years, the values have decreased marginally: -0.61% in 2023 and -0.57% in 2022. The Compound Annual Growth Rate (CAGR) over the last five years has reaffirmed this declining trend, averaging at -3.76% annually.
Looking ahead, into forecasts from 2024 to 2028, the turnover is expected to continue its downward trajectory, reaching €15.86 billion by the end of this period. The forecasted CAGR for the next five years is -3.19%, indicating an overall reduced sector activity by approximately -14.97% by 2028.
Future Trends to Watch For:
- Increasing adoption of electric vehicles (EVs) and hybrid models.
- Changes in consumer behavior driven by sustainability concerns.
- Impact of economic policies and regulations on automotive sales.
- Technological advancements and integrations in vehicle manufacturing.
