Forecast: Motor Vehicles Turnover in Italy

The motor vehicles turnover in Italy reached €42.03 billion in 2023, marking a cautious recovery with a 4% year-on-year growth after notable declines during the late 2010s. Noteworthy were the years 2015 and 2016, which saw significant growth rates of 22.14% and 12.34%, respectively. However, the momentum slowed and even reversed, reaching a nadir in 2019 with a substantial decline of 22.96%. Subsequent years saw some stability with modest growth rates. From 2024 onwards, projections indicate a steady upward trend with an expected average annual growth rate (CAGR) of 2.71%, culminating in an estimated turnover of €49.88 billion by 2028.

Future trends to watch for:

• Increased adoption and integration of electric vehicles (EVs).
• Shift towards sustainable and environment-friendly practices.
• Potential impacts of economic policies and incentives for the automotive industry.
• Continued technological advancements in autonomous driving.
• Global supply chain disruptions and their influence on manufacturing and sales.