Italy’s car market is back in full swing after a horrible Spring and a progressive recovery from early Summer. Official August market figures are out and offer a very upbeat picture. A market improvement was broadly anticipated, as this month marks the introduction of new incentives aimed at electric mobility and low emission ICE vehicles. What remained to be seen was which powertrains would benefit the most from the new policy.
The Dutch automotive market is back in red, -22% year over year (YoY), but the plugin vehicle category continues in the fast lane (up 75% last month), thanks to 5,680 units registered in August.
The European passenger plugin vehicle market is on fire, having scored over 113,000 registrations in July (+213% year over year, the highest growth rate in 5 years). This is the market’s second record performance in a row
Summer continues with a strong growth trend for the Italian EV market. With the broader car industry now in recovery mode as the coronavirus pandemic falls under control, and ahead of enhanced EV incentives recently passed by Italy’s government, July monthly car sales figures paint a well known picture of steady growth for electric mobility.
While the overall European market is still in recovery mode in June, down 24% year over year (YoY), the European passenger plugin vehicle market has returned to the fast track, having achieved almost 93,000 registrations in June (+95%).
Italy’s EV market is finally getting hot. Following months of unprecedented growth and despite an incredibly adverse time in history, electric mobility has now reached the halfway point of this infamous year with outstanding figures, doubling sales from 2019. And the most important aspect is, we haven’t seen anything yet.
Electric car sales are keeping their strong momentum in Italy. As the nation’s car market recovers from the coronavirus collapse of previous months, overall volumes are returning to healthy levels amidst strong signs of a new reality in the industry. June figures show consolidating trends of change that will likely lead to electric surprises in the second half of the year.
June saw electric vehicle pioneer Norway achieve 66% plug-in electric vehicle market share, up from 62% last year in the same month. The overall passenger auto market was down 25.5% year on year, a significant recovery from May’s almost 40% drop.
After a Covid-derived drop in April (-16% year over year), the European passenger plug-in vehicle market went back to black in May, having scored 46,800 registrations (+23%), a great performance considering the overall market is still recovering (-57% in May).
Don’t believe commonly repeated anti-hype, nor the praised but far too timid aspirations of companies like Lyft. Over a year ago, I wrote an article predicting the transition happening around 2025. The EV revolution is happening faster than I expected in that article, and the next 5 years will show a dramatic shift.
